Incyte Co. (NASDAQ:INCY) Receives $73.29 Consensus Price Target from Analysts

Incyte Co. (NASDAQ:INCY) has received an average rating of “Hold” from the nineteen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $73.29.

A number of equities research analysts have weighed in on INCY shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. Bank of America lifted their price objective on Incyte from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Royal Bank of Canada raised their target price on shares of Incyte from $66.00 to $67.00 and gave the company a “sector perform” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st.

Incyte Trading Up 1.8 %

Shares of INCY opened at $64.38 on Friday. The firm has a market capitalization of $14.46 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 3.43. Incyte has a 1-year low of $50.27 and a 1-year high of $70.36. The company has a 50-day moving average of $62.74 and a 200 day moving average of $58.90.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. On average, research analysts expect that Incyte will post 3.35 EPS for the current year.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 19,164 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the transaction, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at approximately $3,982,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares in the company, valued at approximately $3,982,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. The disclosure for this sale can be found here. Insiders sold 45,282 shares of company stock valued at $2,876,911 in the last quarter. 17.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Incyte

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INCY. Deseret Mutual Benefit Administrators increased its holdings in shares of Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 164 shares during the period. Moody National Bank Trust Division increased its holdings in Incyte by 1.3% in the 2nd quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock worth $861,000 after buying an additional 179 shares during the period. Ballentine Partners LLC raised its position in Incyte by 4.0% during the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after buying an additional 182 shares during the last quarter. Fisher Asset Management LLC raised its position in Incyte by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock worth $2,773,000 after buying an additional 187 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in Incyte by 4.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock valued at $271,000 after acquiring an additional 204 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.