Incyte Corporation (NASDAQ:INCY) Given Average Rating of “Hold” by Brokerages

Shares of Incyte Corporation (NASDAQ:INCY) have received a consensus rating of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $93.8462.

Several equities research analysts recently issued reports on INCY shares. Wall Street Zen raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Truist Financial reissued a “hold” rating and set a $93.00 price objective (up from $79.00) on shares of Incyte in a research note on Wednesday, October 29th. Zacks Research lowered Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Stifel Nicolaus boosted their price target on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, September 22nd.

Insider Transactions at Incyte

In other Incyte news, EVP Steven H. Stein sold 20,105 shares of Incyte stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the transaction, the executive vice president directly owned 63,129 shares of the company’s stock, valued at $6,471,353.79. The trade was a 24.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sheila A. Denton sold 598 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total transaction of $60,613.28. Following the sale, the executive vice president owned 26,569 shares of the company’s stock, valued at approximately $2,693,033.84. This represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 26,891 shares of company stock worth $2,720,766. 17.80% of the stock is currently owned by company insiders.

Institutional Trading of Incyte

Institutional investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia boosted its holdings in Incyte by 0.7% in the 2nd quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock worth $1,160,000 after acquiring an additional 124 shares during the period. MAI Capital Management lifted its position in shares of Incyte by 19.9% during the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 125 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Incyte by 0.9% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company’s stock valued at $1,235,000 after purchasing an additional 125 shares during the period. Perbak Capital Partners LLP grew its holdings in Incyte by 2.5% during the 3rd quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock valued at $449,000 after purchasing an additional 129 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Incyte by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company’s stock worth $612,000 after buying an additional 147 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Price Performance

INCY stock opened at $101.50 on Thursday. The stock has a market capitalization of $19.93 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.70 and a beta of 0.81. The company has a quick ratio of 3.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. Incyte has a 52-week low of $53.56 and a 52-week high of $109.28. The stock’s fifty day simple moving average is $95.14 and its 200-day simple moving average is $81.97.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.61. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 earnings per share. Equities research analysts expect that Incyte will post 4.86 EPS for the current 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.