Analysts Set Incyte Co. (NASDAQ:INCY) Target Price at $73.44

Shares of Incyte Co. (NASDAQ:INCY) have earned an average rating of “Hold” from the eighteen brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $73.25.

A number of research firms have recently commented on INCY. Oppenheimer lowered their target price on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Tuesday, June 18th. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Truist Financial restated a “buy” rating and issued a $83.00 price objective (down from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Finally, BMO Capital Markets restated an “underperform” rating and issued a $48.00 price objective (down from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd.

Incyte Price Performance

INCY opened at $68.61 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. The company has a market capitalization of $15.41 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 1.40 and a beta of 0.73. The firm’s fifty day moving average price is $61.03 and its two-hundred day moving average price is $58.72. Incyte has a 1 year low of $50.27 and a 1 year high of $70.36.

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 analysts’ consensus estimates of $0.69 by ($0.31). The firm had revenue of $880.89 million for the quarter, compared to analysts’ expectations of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. As a group, analysts anticipate that Incyte will post 3.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 1,306 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the completion of the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the transaction, the insider now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 1,306 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total value of $83,832.14. Following the transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $3,725,715.98. The disclosure for this sale can be found here. Insiders sold 29,711 shares of company stock valued at $1,786,941 in the last quarter. 17.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Incyte

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cape Investment Advisory Inc. purchased a new stake in Incyte in the fourth quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in Incyte in the second quarter worth approximately $26,000. Larson Financial Group LLC boosted 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 worth $27,000 after buying an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Incyte in the fourth quarter worth approximately $31,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Incyte in the first quarter worth approximately $28,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

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.