Incyte Corporation (NASDAQ:INCY) Receives $84.79 Consensus Price Target from Brokerages

Incyte Corporation (NASDAQ:INCY) has been given an average rating of “Hold” by the nineteen analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $84.7857.

Several research firms recently weighed in on INCY. Guggenheim restated a “neutral” rating on shares of Incyte in a research report on Friday, September 19th. Bank of America raised their price objective on shares of Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Royal Bank Of Canada lifted their price objective on shares of Incyte from $72.00 to $81.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. increased their target price on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Barclays started coverage on Incyte in a research note on Friday, August 1st. They set an “overweight” rating and a $90.00 price target for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Banque Transatlantique SA purchased a new stake in shares of Incyte in the 1st quarter valued at $26,000. Harbor Capital Advisors Inc. bought a new stake in Incyte in the third quarter worth $26,000. FNY Investment Advisers LLC bought a new stake in Incyte in the second quarter worth $27,000. MUFG Securities EMEA plc purchased a new stake in Incyte during the second quarter valued at about $32,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Incyte during the second quarter valued at about $33,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Price Performance

Shares of NASDAQ INCY opened at $87.57 on Wednesday. The stock’s 50-day simple moving average is $85.20 and its two-hundred day simple moving average is $72.61. Incyte has a twelve month low of $53.56 and a twelve month high of $92.86. The firm has a market capitalization of $17.10 billion, a P/E ratio of 19.90, a P/E/G ratio of 0.68 and a beta of 0.73. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01.

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.