Incyte Co. (NASDAQ:INCY) Receives Average Recommendation of “Buy” from Brokerages

Posted by on Jun 8th, 2022

Shares of Incyte Co. (NASDAQ:INCY – Get Rating) have been given a consensus rating of “Buy” by the fifteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $86.92.

Several research firms recently commented on INCY. Morgan Stanley raised their target price on Incyte from $73.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 20th. Stifel Nicolaus raised their target price on Incyte from $75.00 to $77.00 in a research report on Tuesday, May 3rd. SVB Leerink cut Incyte from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $60.00 to $56.00 in a research report on Wednesday, February 9th. Zacks Investment Research upgraded Incyte from a “sell” rating to a “hold” rating and set a $85.00 target price on the stock in a research report on Tuesday, April 5th. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 14th.

Shares of NASDAQ INCY opened at $74.91 on Wednesday. The company has a market cap of $16.59 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 0.89 and a beta of 0.71. Incyte has a 12-month low of $61.91 and a 12-month high of $88.26. The company has a current ratio of 3.71, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $77.22 and its 200 day simple moving average is $73.53.

Incyte (NASDAQ:INCY – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $733.20 million for the quarter, compared to the consensus estimate of $753.54 million. Incyte had a return on equity of 12.77% and a net margin of 29.95%. The business’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. As a group, equities analysts forecast that Incyte will post 2.31 earnings per share for the current fiscal year.

In other news, EVP Barry P. Flannelly sold 43,993 shares of the firm’s stock in a transaction on Friday, April 8th. The stock was sold at an average price of $83.49, for a total value of $3,672,975.57. Following the completion of the sale, the executive vice president now owns 65,163 shares of the company’s stock, valued at $5,440,458.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bros. Advisors Lp Baker bought 218,563 shares of the firm’s stock in a transaction dated Thursday, March 10th. The stock was acquired at an average cost of $73.13 per share, with a total value of $15,983,512.19. The disclosure for this purchase can be found here. Insiders own 15.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Fiera Capital Corp acquired a new stake in Incyte during the fourth quarter valued at $653,000. National Bank of Canada FI acquired a new stake in Incyte during the fourth quarter valued at $44,000. Illinois Municipal Retirement Fund boosted its position in Incyte by 30.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 21,033 shares of the biopharmaceutical company’s stock valued at $1,544,000 after purchasing an additional 4,961 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in Incyte during the fourth quarter valued at $5,774,000. Finally, Nissay Asset Management Corp Japan ADV boosted its position in Incyte by 5.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,131 shares of the biopharmaceutical company’s stock valued at $1,478,000 after purchasing an additional 1,081 shares during the last quarter. 92.78% of the stock is owned by institutional investors and hedge funds.

About Incyte (Get Rating)

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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