Incyte Corporation (NASDAQ:INCY) Given Average Rating of “Hold” by Brokerages

Incyte Corporation (NASDAQ:INCY) has received an average recommendation of “Hold” from the twenty-one brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $104.8889.

A number of research firms have recently commented on INCY. Wells Fargo & Company reduced their price objective on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Incyte in a report on Wednesday, March 25th. Truist Financial set a $103.00 price objective on shares of Incyte in a report on Wednesday, December 24th. UBS Group reduced their price objective on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Finally, Stifel Nicolaus raised their price objective on shares of Incyte from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th.

Incyte Price Performance

NASDAQ:INCY opened at $93.69 on Wednesday. The company has a 50-day moving average of $97.64 and a 200-day moving average of $97.55. The company has a market capitalization of $18.65 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.76 and a beta of 0.85. Incyte has a 52 week low of $53.56 and a 52 week high of $112.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.25 and a current ratio of 3.32.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.35 billion. Incyte had a return on equity of 26.34% and a net margin of 25.03%.Incyte’s revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 earnings per share. As a group, equities research analysts anticipate that Incyte will post 4.86 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $94.24, for a total transaction of $1,759,178.08. Following the completion of the sale, the insider owned 234,800 shares in the company, valued at $22,127,552. This trade represents a 7.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 17.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Incyte

A number of hedge funds have recently made changes to their positions in INCY. Harbor Capital Advisors Inc. acquired a new stake in shares of Incyte during the 3rd quarter worth about $26,000. Root Financial Partners LLC acquired a new stake in shares of Incyte during the 3rd quarter worth about $28,000. Elyxium Wealth LLC acquired a new stake in shares of Incyte during the 4th quarter worth about $28,000. Smithfield Trust Co increased its position in shares of Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 162 shares in the last quarter. Finally, Quent Capital LLC acquired a new stake in shares of Incyte during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.