Incyte Co. (NASDAQ:INCY) Receives $73.29 Consensus Price Target from Analysts

Incyte Co. (NASDAQ:INCY) has been assigned an average rating of “Hold” from the nineteen ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $73.29.

A number of research firms have weighed in on INCY. JPMorgan Chase & Co. increased their target price on Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Truist Financial restated a “buy” rating and issued a $83.00 price target (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Oppenheimer reduced their price target on Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st.

Incyte Trading Down 1.8 %

Shares of NASDAQ:INCY opened at $63.02 on Friday. The company has a market cap of $14.15 billion, a P/E ratio of 19.10, a PEG ratio of 1.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 3.43. Incyte has a 1 year low of $50.27 and a 1 year high of $70.36. The stock’s fifty day moving average price is $62.83 and its 200-day moving average price is $58.96.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts expect that Incyte will post 3.35 earnings per share for the current year.

Insider Activity

In related news, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at approximately $3,982,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the sale, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the sale, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at $3,982,620. The disclosure for this sale can be found here. Insiders sold 45,282 shares of company stock valued at $2,876,911 in the last ninety days. Insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Incyte by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock worth $1,294,120,000 after purchasing an additional 196,440 shares during the period. Acadian Asset Management LLC increased its holdings in Incyte by 28.0% during the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after purchasing an additional 779,243 shares during the period. LSV Asset Management increased its holdings in Incyte by 0.5% during the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after purchasing an additional 15,115 shares during the period. Pacer Advisors Inc. increased 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 worth $163,200,000 after purchasing an additional 2,676,851 shares during the period. Finally, AQR Capital Management LLC increased 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 worth $159,905,000 after purchasing an additional 1,101,041 shares during the period. 96.97% of the stock is currently owned by hedge funds and other 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.