Incyte Co. (NASDAQ:INCY) Receives $75.25 Average Price Target from Analysts

Incyte Co. (NASDAQ:INCY) has been assigned an average recommendation of “Hold” from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $75.25.

Several research analysts have issued reports on INCY shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Stifel Nicolaus lifted their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Citigroup reduced their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Finally, StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 650 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the sale, the insider now directly owns 23,312 shares in the company, valued at $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,320 shares of company stock valued at $2,072,849. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in shares of Incyte during the 3rd quarter valued at $156,611,000. Mizuho Securities USA LLC boosted its stake in shares of Incyte by 13,814.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after acquiring an additional 1,985,726 shares in the last quarter. Norges Bank acquired a new position in shares of Incyte in the 4th quarter worth $121,890,000. AQR Capital Management LLC raised its holdings in Incyte by 29.7% during the 4th quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company’s stock worth $241,519,000 after buying an additional 801,090 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Incyte by 861.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company’s stock worth $61,587,000 after buying an additional 798,877 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Trading Up 0.5 %

NASDAQ INCY opened at $71.13 on Tuesday. Incyte has a twelve month low of $50.35 and a twelve month high of $83.95. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 263.45, a PEG ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The firm’s 50 day moving average price is $71.87 and its two-hundred day moving average price is $70.26.

Incyte (NASDAQ:INCY) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Equities analysts anticipate that Incyte will post 4.86 EPS for the current year.

About Incyte

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.