Incyte Corporation (NASDAQ:INCY) Given Consensus Recommendation of “Hold” by Analysts

Incyte Corporation (NASDAQ:INCY) has received a consensus recommendation of “Hold” from the twenty-one brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $100.75.

A number of equities analysts have recently commented on the company. Wall Street Zen raised Incyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Piper Sandler lifted their target price on Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Zacks Research cut Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $90.00 price objective on shares of Incyte in a research report on Thursday, January 8th.

Incyte Price Performance

INCY opened at $105.06 on Friday. The firm has a 50-day moving average price of $102.03 and a 200-day moving average price of $90.37. Incyte has a twelve month low of $53.56 and a twelve month high of $112.29. The company has a quick ratio of 3.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $20.63 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 0.63 and a beta of 0.82.

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

Insider Transactions at Incyte

In related news, EVP Steven H. Stein sold 20,105 shares of Incyte stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the completion of the sale, the executive vice president owned 63,129 shares of the company’s stock, valued at approximately $6,471,353.79. This trade represents a 24.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total value of $1,184,063.92. Following the completion of the transaction, the executive vice president owned 66,132 shares in the company, valued at $7,213,017.24. This represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 98,897 shares of company stock worth $9,869,376. 17.80% of the stock is owned by corporate insiders.

Institutional Trading of Incyte

Large investors have recently modified their holdings of the business. Bank of Nova Scotia raised its stake in Incyte by 0.7% in the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 124 shares in the last quarter. MAI Capital Management increased its holdings in shares of Incyte by 19.9% in the 2nd quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock worth $51,000 after buying an additional 125 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its position in shares of Incyte by 0.9% during the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company’s stock valued at $1,235,000 after buying an additional 125 shares in the last quarter. Perbak Capital Partners LLP lifted its holdings in shares of Incyte by 2.5% during the 3rd quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock worth $449,000 after acquiring an additional 129 shares during the last quarter. Finally, Savvy Advisors Inc. lifted its holdings in shares of Incyte by 2.6% during the 4th quarter. Savvy Advisors Inc. now owns 5,339 shares of the biopharmaceutical company’s stock worth $527,000 after acquiring an additional 133 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.