Brokerages Set Incyte Co. (NASDAQ:INCY) Price Target at $74.69

Shares of Incyte Co. (NASDAQ:INCY) have earned an average recommendation of “Hold” from the nineteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $74.69.

Several brokerages have recently commented on INCY. JPMorgan Chase & Co. lowered their price target on shares of Incyte from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Citigroup dropped their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Truist Financial reduced their price target on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Guggenheim downgraded Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Tuesday, March 18th. Finally, Royal Bank of Canada reduced their target price on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 11th.

Insider Transactions at Incyte

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,475 shares of company stock worth $2,424,751 in the last three months. Insiders own 17.60% of the company’s stock.

Institutional Trading of Incyte

Large investors have recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. acquired a new stake in Incyte in the 4th quarter valued at about $26,000. Global X Japan Co. Ltd. lifted its position in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 230 shares during the last quarter. R Squared Ltd bought a new position in shares of Incyte during the 4th quarter worth approximately $30,000. Raiffeisen Bank International AG acquired a new position in shares of Incyte during the 4th quarter worth approximately $34,000. Finally, Blue Trust Inc. raised its stake in Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 329 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

INCY stock opened at $60.43 on Wednesday. The stock has a market capitalization of $11.69 billion, a PE ratio of 223.82, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The company has a 50 day moving average price of $63.19 and a 200 day moving average price of $68.94. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. Analysts forecast that Incyte will post 4.86 EPS 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.