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

Incyte Corporation (NASDAQ:INCY) has received an average rating of “Hold” from the twenty-one brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $103.9412.

Several equities analysts recently issued reports on the company. Wells Fargo & Company decreased their price objective on Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Monday, November 3rd. Truist Financial set a $103.00 price objective on shares of Incyte in a research report on Wednesday, December 24th. Wall Street Zen lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, TD Cowen reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, January 13th.

Incyte Price Performance

INCY opened at $101.10 on Tuesday. The stock has a market cap of $20.12 billion, a P/E ratio of 15.77, a P/E/G ratio of 0.80 and a beta of 0.82. Incyte has a 12 month low of $53.56 and a 12 month high of $112.29. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $101.81 and a 200 day simple moving average of $94.49.

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

Insider Transactions at Incyte

In other Incyte news, EVP Mohamed Khairie Issa sold 10,856 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the completion of the transaction, the executive vice president owned 66,132 shares of the company’s stock, valued at $7,213,017.24. This represents a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven H. Stein sold 20,105 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the transaction, the executive vice president directly owned 63,129 shares of the company’s stock, valued at $6,471,353.79. This represents a 24.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 95,225 shares of company stock valued at $9,519,745 over the last three months. 17.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC increased its stake in Incyte by 0.9% in the 4th quarter. Jacobi Capital Management LLC now owns 10,613 shares of the biopharmaceutical company’s stock valued at $1,048,000 after buying an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Incyte by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock valued at $1,864,000 after acquiring an additional 100 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Incyte by 7.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,628 shares of the biopharmaceutical company’s stock worth $161,000 after acquiring an additional 113 shares in the last quarter. Bank of Nova Scotia raised its holdings in Incyte by 0.7% during the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock worth $1,160,000 after acquiring an additional 124 shares in the last quarter. Finally, MAI Capital Management boosted its position in Incyte by 19.9% during the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

About Incyte

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.