Incyte Co. (NASDAQ:INCY) Given Average Recommendation of “Hold” by Brokerages

Shares of Incyte Co. (NASDAQ:INCY) have earned a consensus recommendation of “Hold” from the eighteen analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $73.44.

Several analysts recently issued reports on the company. Truist Financial reiterated a “buy” rating and issued a $83.00 price target (down from $84.00) on shares of Incyte in a report on Wednesday, May 1st. Oppenheimer lowered their price target on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. TD Cowen lowered their price target on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Tuesday, June 18th. Finally, BMO Capital Markets reiterated an “underperform” rating and issued a $48.00 price target (down from $52.00) on shares of Incyte in a report on Tuesday.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 1,093 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the transaction, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the transaction, the executive vice president now owns 66,377 shares of the company’s stock, valued at $3,982,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the transaction, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Incyte

A number of large investors have recently bought and sold shares of INCY. Cape Investment Advisory Inc. bought a new position in Incyte in the fourth quarter worth about $25,000. Larson Financial Group LLC increased its stake in shares of Incyte by 4,220.0% in the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 422 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in shares of Incyte in the first quarter valued at approximately $28,000. Riverview Trust Co acquired a new stake in shares of Incyte in the first quarter valued at approximately $29,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Incyte in the fourth quarter valued at approximately $31,000. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Down 2.3 %

INCY stock opened at $57.66 on Thursday. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.31 and a beta of 0.73. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $57.73 and a 200-day simple moving average of $58.66. Incyte has a 52 week low of $50.27 and a 52 week high of $67.36.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The firm had revenue of $880.89 million for the quarter, compared to analyst estimates of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. On average, equities research analysts expect that Incyte will post 3.57 EPS for the current 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.