Incyte Co. (NASDAQ:INCY) Receives $74.88 Consensus Price Target from Analysts

Shares of Incyte Co. (NASDAQ:INCY) have earned a consensus rating of “Hold” from the nineteen research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $74.88.

A number of equities analysts recently weighed in on the stock. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a report on Tuesday, March 18th. Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Citigroup lowered their price target on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Truist Financial reduced their target price on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th.

Incyte Price Performance

Shares of NASDAQ INCY opened at $60.55 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The business has a 50-day moving average of $69.31 and a 200-day moving average of $70.12. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 224.27, a PEG ratio of 0.41 and a beta of 0.76. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, sell-side analysts predict that Incyte will post 4.86 earnings per share for the current fiscal year.

Insider Transactions at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares of the company’s stock, valued at $2,272,150.23. The trade was a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. acquired a new stake in shares of Incyte in the 4th quarter valued at $26,000. Global X Japan Co. Ltd. boosted its stake in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Incyte in the third quarter valued at about $30,000. R Squared Ltd bought a new position in Incyte in the fourth quarter valued at about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte in the third quarter worth about $33,000. 96.97% of the stock is owned by institutional investors.

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.