Incyte Corporation (NASDAQ:INCY) Receives Average Rating of “Hold” from Brokerages

Incyte Corporation (NASDAQ:INCY) has earned a consensus recommendation of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $105.10.

A number of equities research analysts recently commented on the company. TD Cowen reiterated a “hold” rating on shares of Incyte in a report on Tuesday, June 9th. Barclays reiterated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. UBS Group dropped their price objective on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Jefferies Financial Group downgraded Incyte from a “buy” rating to a “hold” rating and dropped their price objective for the company from $120.00 to $94.00 in a report on Monday, March 16th. Finally, Sanford C. Bernstein assumed coverage on Incyte in a report on Thursday, May 21st. They issued a “market perform” rating and a $99.00 price objective for the company.

Insider Buying and Selling

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the sale, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Incyte

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INCY. Elyxium Wealth LLC bought a new stake in shares of Incyte in the fourth quarter worth about $28,000. Smithfield Trust Co increased its holdings in shares of Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 162 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Incyte in the second quarter worth about $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Incyte in the second quarter worth about $33,000. Finally, Leonteq Securities AG bought a new stake in shares of Incyte in the fourth quarter worth about $35,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

INCY opened at $98.22 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The company has a market cap of $19.62 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.95 and a beta of 0.79. The firm has a 50 day simple moving average of $98.19 and a 200 day simple moving average of $98.94. Incyte has a fifty-two week low of $66.74 and a fifty-two week high of $112.29.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, sell-side analysts anticipate that Incyte will post 6.66 earnings per share for the current year.

About Incyte

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.