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

Shares of Incyte Corporation (NASDAQ:INCY) have been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine 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 $104.00.

A number of equities analysts recently weighed in on INCY shares. Wall Street Zen cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Wells Fargo & Company decreased their price target on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Mizuho set a $121.00 price objective on shares of Incyte and gave the stock an “outperform” rating in a report on Monday, December 8th. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Monday, November 3rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $90.00 price target on shares of Incyte in a research note on Thursday, January 8th.

Incyte Stock Performance

NASDAQ INCY opened at $100.85 on Tuesday. Incyte has a 52-week low of $53.56 and a 52-week high of $112.29. The company has a fifty day moving average of $102.36 and a 200-day moving average of $95.34. The company has a market capitalization of $20.07 billion, a P/E ratio of 15.73, a P/E/G ratio of 0.81 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.25 and a current ratio of 3.32.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business earned $1.43 EPS. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, equities research analysts predict that Incyte will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Incyte news, EVP Mohamed Khairie Issa sold 10,856 shares of Incyte stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 66,132 shares of the company’s stock, valued at $7,213,017.24. The trade was a 14.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven H. Stein sold 20,105 shares of the company’s stock in a transaction dated 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 approximately $6,471,353.79. This trade represents a 24.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,225 shares of company stock valued at $9,519,745 in the last 90 days. 17.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Incyte

Institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. bought a new position in Incyte in the third quarter worth about $26,000. FNY Investment Advisers LLC purchased a new position in shares of Incyte during the 2nd quarter worth approximately $27,000. Root Financial Partners LLC bought a new position in shares of Incyte in the 3rd quarter worth approximately $28,000. Elyxium Wealth LLC bought a new position in shares of Incyte in the 4th quarter worth approximately $28,000. Finally, Smithfield Trust Co boosted its position in shares of Incyte by 135.0% during the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.