Incyte Co. (NASDAQ:INCY) Given Average Recommendation of "Hold" by Analysts

Incyte Co. (NASDAQ:INCY - Get Free Report) has received a consensus rating of "Hold" from the nineteen analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $74.69.

Several research analysts have weighed in on INCY shares. Guggenheim downgraded Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target for the company. in a research note on Tuesday, March 18th. JPMorgan Chase & Co. cut their target price on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday. StockNews.com downgraded shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Stifel Nicolaus increased their price objective on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a report on Monday, February 10th. Finally, William Blair cut Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th.

Insider Activity at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at $1,914,561.36. The trade was a 35.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,475 shares of company stock worth $2,424,751. Insiders own 17.60% of the company's stock.

Institutional Trading of Incyte

Several institutional investors and hedge funds have recently modified their holdings of the stock. Whalen Wealth Management Inc. increased its holdings in Incyte by 61.6% during the 1st quarter. Whalen Wealth Management Inc. now owns 5,740 shares of the biopharmaceutical company's stock worth $348,000 after purchasing an additional 2,189 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Incyte during the 1st quarter worth $280,000. Intact Investment Management Inc. purchased a new position in shares of Incyte during the first quarter valued at $73,000. State of Alaska Department of Revenue raised its holdings in shares of Incyte by 3.2% in the first quarter. State of Alaska Department of Revenue now owns 18,824 shares of the biopharmaceutical company's stock valued at $1,139,000 after acquiring an additional 590 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in Incyte by 105.0% in the first quarter. CWA Asset Management Group LLC now owns 57,381 shares of the biopharmaceutical company's stock worth $3,474,000 after acquiring an additional 29,397 shares during the period. Institutional investors own 96.97% of the company's stock.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $57.38 on Wednesday. The stock has a market cap of $11.10 billion, a PE ratio of 212.53, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. Incyte has a 1 year low of $50.35 and a 1 year high of $83.95. The firm has a fifty day moving average price of $64.35 and a 200-day moving average price of $69.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results 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 net margin of 0.77% and a return on equity of 0.05%. Equities analysts anticipate that Incyte will post 4.86 earnings per share for the current fiscal year.

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.

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