Incyte Co. (NASDAQ:INCY) Receives Consensus Rating of “Hold” from Analysts

Shares of Incyte Co. (NASDAQ:INCY) have earned an average recommendation of “Hold” from the twenty brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $75.59.

Several equities analysts recently issued reports on the stock. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and lifted their price target for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Stifel Nicolaus lifted their price target on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday. Royal Bank of Canada dropped their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday. Finally, Oppenheimer boosted their target price on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th.

Insider Transactions at Incyte

In related news, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % 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 Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock worth $1,444,356 in the last quarter. 17.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its stake in Incyte by 67.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 99,000 shares of the biopharmaceutical company’s stock valued at $6,838,000 after buying an additional 40,026 shares in the last quarter. Bridgewater Associates LP lifted its stake in Incyte by 117.7% in the fourth quarter. Bridgewater Associates LP now owns 671,777 shares of the biopharmaceutical company’s stock valued at $46,400,000 after buying an additional 363,145 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in Incyte in the fourth quarter valued at approximately $899,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Incyte in the fourth quarter valued at approximately $4,280,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in Incyte in the fourth quarter valued at approximately $151,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Up 1.4 %

Shares of NASDAQ:INCY opened at $70.01 on Friday. The company has a market capitalization of $13.49 billion, a PE ratio of 500.11, a P/E/G ratio of 0.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The company’s fifty day moving average is $71.47 and its 200-day moving average is $69.16. Incyte has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Equities research analysts predict that Incyte will post 0.35 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.