Incyte Co. (NASDAQ:INCY) Receives $77.16 Average Target Price from Analysts

Shares of Incyte Co. (NASDAQ:INCY) have been assigned a consensus rating of “Hold” from the twenty-one ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $77.16.

Several analysts have issued reports on INCY shares. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and upped their price target for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Guggenheim lifted their price target on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. The Goldman Sachs Group upped their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th.

Incyte Stock Up 1.7 %

Incyte stock opened at $74.80 on Friday. Incyte has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $70.21 and a 200-day moving average of $64.85. The stock has a market capitalization of $14.41 billion, a PE ratio of 534.32, a price-to-earnings-growth ratio of 8.27 and a beta of 0.71.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities research analysts anticipate that Incyte will post 0.4 EPS for the current fiscal year.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This represents a 18.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,702 shares of company stock valued at $856,166 over the last ninety days. 17.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Incyte

Several large investors have recently modified their holdings of INCY. Tri Ri Asset Management Corp acquired a new stake in shares of Incyte in the third quarter valued at about $3,292,000. Toronto Dominion Bank boosted its holdings in Incyte by 16.9% in the third quarter. Toronto Dominion Bank now owns 54,084 shares of the biopharmaceutical company’s stock valued at $3,575,000 after acquiring an additional 7,812 shares during the last quarter. Coldstream Capital Management Inc. bought a new stake in Incyte in the third quarter valued at approximately $302,000. Barclays PLC increased its position in Incyte by 8.1% during the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock valued at $68,208,000 after purchasing an additional 77,542 shares during the period. Finally, Groupama Asset Managment raised its holdings in Incyte by 11.4% during the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 6,105 shares during the last quarter. Institutional investors 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.