Incyte Co. (NASDAQ:INCY) Given Average Rating of “Hold” by Analysts

Shares of Incyte Co. (NASDAQ:INCY) have earned a consensus rating of “Hold” from the fifteen analysts that are covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $76.07.

INCY has been the topic of a number of recent research reports. Citigroup reduced their price target on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Jefferies Financial Group initiated coverage on shares of Incyte in a research report on Friday, February 23rd. They issued a “buy” rating and a $81.00 target price on the stock. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Bank of America decreased their price objective on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Finally, Stifel Nicolaus increased their target price on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, February 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. bought a new stake in shares of Incyte during the 4th quarter valued at about $25,000. Clear Street Markets LLC boosted its position in Incyte by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 175 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 422 shares during the period. Riverview Trust Co bought a new position in shares of Incyte in the 1st quarter worth approximately $29,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Incyte in the 4th quarter valued at approximately $31,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Down 0.9 %

Shares of NASDAQ:INCY opened at $52.72 on Friday. The firm has a market capitalization of $11.84 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55. Incyte has a 52-week low of $50.27 and a 52-week high of $75.74. The firm has a fifty day moving average of $57.65 and a 200 day moving average of $57.99.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. Incyte’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. As a group, research analysts anticipate that Incyte will post 3.84 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.