Brokerages Set Incyte Corporation (NASDAQ:INCY) Price Target at $103.94

Incyte Corporation (NASDAQ:INCY) has received an average recommendation of “Hold” from the twenty-one analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $104.00.

A number of equities analysts have weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research report on Thursday, January 22nd. The Goldman Sachs Group reissued a “neutral” rating and set a $90.00 target price on shares of Incyte in a report on Thursday, January 8th. TD Cowen reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, January 13th. Mizuho set a $121.00 price target on shares of Incyte and gave the stock an “outperform” rating in a research note on Monday, December 8th. Finally, Royal Bank Of Canada dropped their price objective on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th.

Insider Activity at Incyte

In other Incyte news, insider Thomas Tray sold 2,774 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the transaction, the insider owned 22,973 shares in the company, valued at $2,297,300. The trade was a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $102.51, for a total value of $2,060,963.55. Following the sale, the executive vice president owned 63,129 shares in the company, valued at approximately $6,471,353.79. This trade represents a 24.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 95,225 shares of company stock worth $9,519,745. 17.80% of the stock is owned by corporate insiders.

Institutional Trading of Incyte

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Jacobi Capital Management LLC raised its stake in shares of Incyte by 0.9% in the fourth quarter. Jacobi Capital Management LLC now owns 10,613 shares of the biopharmaceutical company’s stock worth $1,048,000 after acquiring an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Incyte by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock valued at $1,864,000 after acquiring an additional 100 shares during the period. Smartleaf Asset Management LLC grew its stake in Incyte by 7.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,628 shares of the biopharmaceutical company’s stock valued at $161,000 after acquiring an additional 113 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Incyte by 0.7% during the 2nd quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 124 shares in the last quarter. Finally, MAI Capital Management increased its position in shares of Incyte by 19.9% during the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Trading Down 1.2%

Incyte stock opened at $101.73 on Tuesday. Incyte has a 52 week low of $53.56 and a 52 week high of $112.29. The stock has a 50-day moving average price of $102.20 and a 200 day moving average price of $94.78. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $20.25 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 0.82 and a beta of 0.82.

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

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.