Incyte Corporation (NASDAQ:INCY) Receives $109.95 Average Target Price from Analysts

Incyte Corporation (NASDAQ:INCY) has been given an average rating of “Hold” by the twenty-two brokerages that are presently covering the stock, MarketBeat.com reports. Fourteen analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $109.95.

Several analysts recently issued reports on INCY shares. UBS Group boosted their target price on shares of Incyte from $103.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Royal Bank Of Canada increased their price target on shares of Incyte from $95.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Oppenheimer reiterated a “market perform” rating and set a $107.00 price target on shares of Incyte in a research note on Monday, June 8th. Barclays boosted their price objective on shares of Incyte from $117.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, BMO Capital Markets upped their price objective on Incyte from $94.00 to $112.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th.

Institutional Trading of Incyte

Several hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB grew its stake in Incyte by 941.8% in the fourth quarter. Nordea Investment Management AB now owns 322,223 shares of the biopharmaceutical company’s stock worth $31,874,000 after purchasing an additional 291,293 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in Incyte during the 4th quarter valued at $1,213,000. Fairvoy Private Wealth LLC raised its position in Incyte by 468.8% during the 4th quarter. Fairvoy Private Wealth LLC now owns 30,169 shares of the biopharmaceutical company’s stock valued at $2,980,000 after purchasing an additional 24,865 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of Incyte by 180.8% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 85,480 shares of the biopharmaceutical company’s stock worth $7,250,000 after buying an additional 55,039 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Incyte by 627.8% in the 4th quarter. SG Americas Securities LLC now owns 186,790 shares of the biopharmaceutical company’s stock worth $18,449,000 after buying an additional 161,124 shares during the period. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $117.25 on Friday. The stock’s 50-day simple moving average is $104.99 and its two-hundred day simple moving average is $101.04. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.06 and a beta of 0.76. Incyte has a 52-week low of $67.17 and a 52-week high of $119.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts expect that Incyte will post 6.61 EPS for the current year.

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.