By otakuyassine3@gmail.com 
Incyte Co. (NASDAQ:INCY – Get Free Report) has been assigned an average recommendation of “Hold” from the twenty ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $76.29.
INCY has been the topic of several analyst reports. BMO Capital Markets reaffirmed an “underperform” rating and issued a $52.00 target price (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and raised their target price for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Finally, UBS Group initiated coverage on Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective on the stock.
View Our Latest Research Report on Incyte
Insider Transactions at Incyte
In other news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the transaction, the insider now owns 23,312 shares of the company’s stock, valued at $1,615,754.72. The trade was a 2.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,023 shares of company stock valued at $839,711 in the last ninety days. 17.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in Incyte in the 3rd quarter worth approximately $30,000. Innealta Capital LLC bought a new stake in shares of Incyte in the 2nd quarter worth $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte in the third quarter worth $33,000. Itau Unibanco Holding S.A. purchased a new position in shares of Incyte in the second quarter worth $36,000. Finally, Deseret Mutual Benefit Administrators lifted its holdings in shares of Incyte by 37.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.
Incyte Stock Up 0.1 %
Shares of NASDAQ:INCY opened at $69.91 on Thursday. The stock has a market capitalization of $13.47 billion, a P/E ratio of 499.39, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69. The stock’s 50-day moving average price is $72.65 and its 200-day moving average price is $66.85. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte has a 12-month low of $50.35 and a 12-month high of $83.95.
Incyte (NASDAQ:INCY – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. Incyte’s revenue was up 23.8% compared to the same quarter last year. On average, equities analysts anticipate that Incyte will post 0.4 earnings per share for the current year.
Incyte Company Profile
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.
Recommended Stories
Receive News & Ratings for Incyte Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Incyte and related companies with MarketBeat.com’s FREE daily email newsletter.