Incyte Corporation (NASDAQ:INCY) Receives $99.79 Average Price Target from Brokerages

by · The Cerbat Gem

Shares of Incyte Corporation (NASDAQ:INCY – Get Free Report) have earned a consensus rating of “Hold” from the twenty analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $99.7857.

A number of brokerages have recently issued reports on INCY. Truist Financial set a $103.00 price objective on shares of Incyte in a research note on Wednesday, December 24th. Royal Bank Of Canada boosted their price target on shares of Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price objective on Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Finally, Morgan Stanley increased their target price on Incyte from $86.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, December 8th.

Check Out Our Latest Analysis on Incyte

Insider Transactions at Incyte

In related news, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the completion of the sale, the executive vice president directly owned 29,241 shares in the company, valued at $2,749,238.82. This represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael James Morrissey sold 4,323 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $97.26, for a total transaction of $420,454.98. Following the completion of the sale, the executive vice president directly owned 27,507 shares in the company, valued at approximately $2,675,330.82. This trade represents a 13.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 88,318 shares of company stock valued at $8,708,893. Insiders own 17.80% of the company’s stock.

Institutional Trading of Incyte

Institutional investors have recently modified their holdings of the company. Banque Transatlantique SA purchased a new position in Incyte during the 1st quarter valued at about $26,000. Harbor Capital Advisors Inc. bought a new stake in shares of Incyte in the 3rd quarter worth approximately $26,000. FNY Investment Advisers LLC purchased a new position in shares of Incyte during the second quarter valued at approximately $27,000. Root Financial Partners LLC bought a new position in shares of Incyte during the third quarter valued at approximately $28,000. Finally, Quent Capital LLC purchased a new stake in Incyte in the third quarter worth $30,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Price Performance

Shares of Incyte stock opened at $101.42 on Monday. The firm has a market capitalization of $19.91 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.61 and a beta of 0.82. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01. Incyte has a 12 month low of $53.56 and a 12 month high of $109.28. The business’s 50-day moving average price is $100.69 and its 200-day moving average price is $87.03.

Incyte (NASDAQ:INCY – Get Free Report) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company posted $1.07 EPS. Incyte’s quarterly revenue was up 20.0% compared to the same quarter last year. Sell-side analysts forecast that Incyte will post 4.86 EPS for the current fiscal year.

About Incyte

(Get Free Report)

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.

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