Brokerages Set Incyte Co. (NASDAQ:INCY) Price Target at $75.71

Incyte Co. (NASDAQ:INCY) has been given an average rating of “Hold” by the twenty ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $75.59.

Several research analysts recently issued reports on INCY shares. Wells Fargo & Company upped their target price on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Stifel Nicolaus upped their price target on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday. Finally, Oppenheimer lifted their price objective 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 Activity at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the transaction, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock worth $1,444,356 in the last three months. 17.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Incyte

Hedge funds have recently modified their holdings of the stock. Quintet Private Bank Europe S.A. purchased a new position in Incyte during the 4th quarter worth $26,000. Global X Japan Co. Ltd. raised its holdings in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing 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 purchased a new stake in shares of Incyte in the fourth quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Incyte during the 3rd quarter worth $33,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Trading Down 2.9 %

Shares of NASDAQ:INCY opened at $66.33 on Friday. The company has a market capitalization of $12.78 billion, a PE ratio of 473.82, a P/E/G ratio of 0.53 and a beta of 0.70. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte has a 12-month low of $50.35 and a 12-month high of $83.95. The business’s fifty day simple moving average is $71.69 and its 200-day simple moving average is $69.18.

Incyte (NASDAQ:INCY) last released 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 0.80% and a negative return on equity of 0.63%. As a group, 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.