Brokerages Set Incyte Co. (NASDAQ:INCY) Price Target at $76.29

Incyte Co. (NASDAQ:INCY) has received an average recommendation of “Hold” from the twenty ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $76.29.

Several research firms recently commented on INCY. Morgan Stanley lifted their price objective on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. The Goldman Sachs Group lifted their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their price target on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th.

Incyte Stock Down 0.7 %

Shares of Incyte stock opened at $71.93 on Monday. The company has a 50-day simple moving average of $72.36 and a two-hundred day simple moving average of $68.06. Incyte has a 52-week low of $50.35 and a 52-week high of $83.95. 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 stock has a market capitalization of $13.86 billion, a PE ratio of 513.82, a price-to-earnings-growth ratio of 0.51 and a beta of 0.71.

Incyte (NASDAQ:INCY) last released its quarterly earnings data 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). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s revenue was up 23.8% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. On average, analysts anticipate that Incyte will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the sale, the insider now directly owns 23,312 shares in the company, valued at $1,615,754.72. The trade was a 2.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were 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. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,023 shares of company stock worth $839,711 in the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Incyte

Several large investors have recently added to or reduced their stakes in INCY. Pacer Advisors Inc. lifted its stake in shares of Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Incyte in the third quarter worth about $156,611,000. Mizuho Securities USA LLC increased its stake in Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after buying an additional 1,985,726 shares during the period. AQR Capital Management LLC lifted its holdings in Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after buying an additional 1,101,041 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Incyte by 2,486.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock valued at $23,923,000 after buying an additional 379,390 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

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.