Incyte Co. (NASDAQ:INCY) Receives $74.88 Consensus Price Target from Analysts

Incyte Co. (NASDAQ:INCY) has been assigned a consensus rating of “Hold” from the nineteen analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $74.88.

Several equities research analysts recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Stifel Nicolaus increased their target price on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. Morgan Stanley dropped their price target on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. UBS Group initiated coverage on shares of Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,827 shares of company stock valued at $3,322,618 over the last three months. 17.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Incyte

Institutional investors and hedge funds have recently modified their holdings of the company. Quintet Private Bank Europe S.A. bought a new stake in Incyte during the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. grew its position in shares of Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. R Squared Ltd bought a new position in shares of Incyte in the fourth quarter worth $30,000. Brooklyn Investment Group purchased a new stake in shares of Incyte in the third quarter worth $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Incyte during the third quarter valued at $33,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Up 2.3 %

Shares of NASDAQ INCY opened at $62.33 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The company has a 50-day moving average price of $68.85 and a 200-day moving average price of $70.04. The stock has a market capitalization of $12.06 billion, a P/E ratio of 230.86, a P/E/G ratio of 0.41 and a beta of 0.76. Incyte has a 1 year low of $50.35 and a 1 year high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 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%. On average, equities research analysts forecast that Incyte will post 4.86 EPS for the current fiscal 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.