Incyte Corporation (NASDAQ:INCY) Receives $100.75 Consensus Target Price from Analysts

Shares of Incyte Corporation (NASDAQ:INCY) have been given a consensus rating of “Hold” by the twenty-one brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $100.75.

Several research firms recently issued reports on INCY. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a report on Thursday. Stifel Nicolaus set a $119.00 price target on Incyte in a research note on Monday, January 5th. Piper Sandler boosted their target price on Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Mizuho set a $121.00 price objective on shares of Incyte and gave the company an “outperform” rating in a research note on Monday, December 8th. Finally, Oppenheimer cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th.

Incyte Price Performance

Shares of INCY opened at $101.99 on Friday. The business has a 50-day moving average of $101.99 and a 200-day moving average of $90.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13. The company has a market capitalization of $20.02 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 0.61 and a beta of 0.82. Incyte has a 1 year low of $53.56 and a 1 year high of $112.29.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.61. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.26 billion. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS. As a group, equities research analysts anticipate that Incyte will post 4.86 earnings per share for the current year.

Insider Transactions at Incyte

In other news, EVP Steven H. Stein sold 20,105 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 63,129 shares of the company’s stock, valued at $6,471,353.79. This represents a 24.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 2,774 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the sale, the insider directly owned 22,973 shares of the company’s stock, valued at $2,297,300. This represents a 10.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 98,897 shares of company stock valued at $9,869,376. Corporate insiders own 17.80% of the company’s stock.

Institutional Investors Weigh In On Incyte

A number of institutional investors and hedge funds have recently made changes to their positions in the business. denkapparat Operations GmbH increased its position in Incyte by 46.1% during the 2nd quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock valued at $769,000 after buying an additional 3,564 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of Incyte in the 3rd quarter worth about $14,646,000. Massachusetts Financial Services Co. MA lifted its position in Incyte by 38.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock valued at $32,873,000 after acquiring an additional 108,645 shares in the last quarter. Callan Family Office LLC purchased a new stake in shares of Incyte during the second quarter valued at $636,000. Finally, Burney Co. bought a new position in Incyte during the third quarter valued at approximately $1,883,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

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.