Incyte Co. (NASDAQ:INCY) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Incyte Co. (NASDAQ:INCY - Get Free Report) have received an average rating of "Hold" from the twenty analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $76.29.

INCY has been the subject of several research reports. Wells Fargo & Company boosted their price objective on Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 19th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a research report on Friday. William Blair restated an "outperform" rating on shares of Incyte in a report on Friday, December 13th. Morgan Stanley upped their target price on shares of Incyte from $64.00 to $69.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price target on shares of Incyte from $72.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, November 14th.

Incyte Price Performance

Incyte stock opened at $70.54 on Monday. The stock has a market capitalization of $13.59 billion, a P/E ratio of 503.89, a P/E/G ratio of 7.90 and a beta of 0.71. The company's fifty day moving average price is $73.13 and its 200 day moving average price is $67.62. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte has a 1 year low of $50.35 and a 1 year high of $83.95.

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

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares in the company, valued at $1,615,754.72. This trade 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 at the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,023 shares of company stock worth $839,711 over the last quarter. 17.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Incyte

Institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company's stock valued at $163,200,000 after acquiring an additional 2,676,851 shares during the period. AQR Capital Management LLC lifted its position in shares of Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company's stock worth $159,905,000 after purchasing an additional 1,101,041 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Incyte during the third quarter worth about $156,611,000. Mizuho Securities USA LLC grew its holdings in shares of Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company's stock valued at $132,207,000 after purchasing an additional 1,985,726 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Incyte by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company's stock worth $106,369,000 after buying an additional 364,169 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

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.