Incyte Co. (NASDAQ:INCY) Receives $92.10 Average Price Target from Brokerages

Incyte Co. (NASDAQ:INCY) has been assigned a consensus recommendation of “Hold” from the twenty-seven analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $92.63.

A number of research firms recently weighed in on INCY. Guggenheim lowered shares of Incyte from a “buy” rating to a “neutral” rating in a research report on Thursday, January 2nd. ValuEngine upgraded shares of Incyte from a “sell” rating to a “hold” rating in a research report on Saturday, January 4th. BidaskClub lowered shares of Incyte from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. BMO Capital Markets lowered their price objective on shares of Incyte from $85.00 to $74.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. Finally, Citigroup reiterated an “outperform” rating and issued a $96.00 price objective (down from $100.00) on shares of Incyte in a research report on Friday, January 3rd.

In related news, EVP Yao Wenqing sold 2,040 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $85.00, for a total value of $173,400.00. Following the sale, the executive vice president now directly owns 47,348 shares in the company, valued at approximately $4,024,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paula J. Swain sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president now owns 44,112 shares in the company, valued at $3,528,960. The disclosure for this sale can be found here. Insiders have sold a total of 133,936 shares of company stock worth $11,594,110 over the last 90 days. Insiders own 17.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in Incyte by 76.2% in the 2nd quarter. Invesco Ltd. now owns 5,210,785 shares of the biopharmaceutical company’s stock valued at $442,708,000 after purchasing an additional 2,252,891 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Incyte by 3,415.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,212,722 shares of the biopharmaceutical company’s stock valued at $187,993,000 after purchasing an additional 2,149,784 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Incyte by 217.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 477,984 shares of the biopharmaceutical company’s stock valued at $35,481,000 after purchasing an additional 327,456 shares during the last quarter. Vanguard Group Inc. raised its stake in Incyte by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,441,152 shares of the biopharmaceutical company’s stock valued at $1,651,720,000 after purchasing an additional 306,066 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in Incyte in the 2nd quarter valued at about $19,070,000. Institutional investors and hedge funds own 90.90% of the company’s stock.

Shares of Incyte stock traded down $0.12 during trading on Wednesday, reaching $80.50. The company’s stock had a trading volume of 1,369,122 shares, compared to its average volume of 2,089,394. The company has a 50-day moving average price of $87.62 and a two-hundred day moving average price of $82.94. The firm has a market cap of $17.34 billion, a PE ratio of 98.17, a P/E/G ratio of 0.91 and a beta of 0.97. Incyte has a fifty-two week low of $72.00 and a fifty-two week high of $96.79. The company has a current ratio of 5.02, a quick ratio of 5.01 and a debt-to-equity ratio of 0.02.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.27. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The business had revenue of $551.58 million for the quarter, compared to analysts’ expectations of $534.73 million. During the same period in the previous year, the company posted $0.41 EPS. The company’s quarterly revenue was up 22.7% on a year-over-year basis. On average, analysts predict that Incyte will post 2.14 earnings per share for the current fiscal year.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Analyst Recommendations for Incyte (NASDAQ:INCY)

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