Incyte Co. (NASDAQ:INCY) Receives Average Rating of “Hold” from Brokerages

Incyte Co. (NASDAQ:INCY) has received a consensus rating of “Hold” from the fifteen research firms that are currently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $76.07.

Several research analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Truist Financial dropped their price target on shares of Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Stifel Nicolaus increased their price objective on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. JMP Securities downgraded Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Finally, BMO Capital Markets increased their price target on Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th.

Hedge Funds Weigh In On Incyte

Institutional investors and hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its holdings in Incyte by 4.8% in the first quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 150 shares in the last quarter. Clear Street Markets LLC lifted its holdings in shares of Incyte by 93.6% in the 1st quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 175 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Incyte by 2.8% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,616 shares of the biopharmaceutical company’s stock valued at $441,000 after purchasing an additional 183 shares during the period. Fisher Asset Management LLC increased its stake in Incyte by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock valued at $2,773,000 after purchasing an additional 187 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Incyte by 1.2% during the third quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company’s stock worth $964,000 after buying an additional 195 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $52.72 on Friday. Incyte has a one year low of $50.27 and a one year high of $75.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36. The company has a market cap of $11.84 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.24 and a beta of 0.65. The firm has a 50 day simple moving average of $57.65 and a 200 day simple moving average of $57.99.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the business earned $0.44 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Research analysts predict that Incyte will post 3.84 earnings per share for the current fiscal year.

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.