Brokerages Set Incyte Co. (NASDAQ:INCY) PT at $73.69

Incyte Co. (NASDAQ:INCY) has earned a consensus rating of “Hold” from the eighteen research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $73.44.

Several research firms have recently issued reports on INCY. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Incyte in a research report on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price on the stock. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Bank of America decreased their target price on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Finally, Truist Financial reiterated a “buy” rating and set a $83.00 target price (down from $84.00) on shares of Incyte in a research report on Wednesday, May 1st.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the transaction, the insider now directly owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now directly owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the sale, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at $3,982,620. The disclosure for this sale can be found here. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Incyte

Institutional investors and hedge funds have recently modified their holdings of the business. Cape Investment Advisory Inc. bought a new stake in shares of Incyte during the fourth quarter worth approximately $25,000. Larson Financial Group LLC increased its stake in Incyte by 4,220.0% in the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 422 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Incyte in the first quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in Incyte in the first quarter valued at approximately $29,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Incyte in the fourth quarter valued at approximately $31,000. 96.97% of the stock is owned by institutional investors.

Incyte Stock Performance

NASDAQ:INCY opened at $57.66 on Thursday. The firm’s 50-day moving average is $57.73 and its 200-day moving average is $58.66. Incyte has a 52-week low of $50.27 and a 52-week high of $67.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.31 and a beta of 0.73.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The company had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. Equities research analysts anticipate that Incyte will post 3.57 earnings per share for the current year.

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.