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

Shares of Incyte Corporation (NASDAQ:INCY) have been given an average recommendation of “Hold” by the twenty brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $99.7857.

Several analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Incyte from $86.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, December 8th. Zacks Research downgraded Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Mizuho set a $121.00 price target on Incyte and gave the stock an “outperform” rating in a report on Monday, December 8th. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Finally, Stifel Nicolaus increased their target price on shares of Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd.

Incyte Trading Down 0.1%

Shares of INCY stock opened at $98.77 on Monday. 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 twelve month low of $53.56 and a twelve month high of $109.28. The company’s 50-day moving average price is $100.29 and its 200-day moving average price is $86.48. The stock has a market cap of $19.39 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 0.68 and a beta of 0.81.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.26 billion. Incyte had a net margin of 24.69% and a return on equity of 26.56%. Incyte’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 earnings per share. As a group, equities analysts predict that Incyte will post 4.86 earnings per share for the current year.

Insider Transactions at Incyte

In other Incyte news, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total transaction of $289,017.48. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 2,774 shares of Incyte stock in a transaction on Friday, December 19th. The shares were sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the sale, the insider directly owned 22,973 shares of the company’s stock, valued at $2,297,300. The trade was a 10.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 88,318 shares of company stock worth $8,708,893 in the last three months. Company insiders own 17.80% of the company’s stock.

Institutional Trading of Incyte

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in shares of Incyte by 92.3% in the first quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock valued at $405,787,000 after purchasing an additional 3,233,356 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Incyte by 701.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,730,648 shares of the biopharmaceutical company’s stock worth $185,957,000 after acquiring an additional 2,390,084 shares in the last quarter. Norges Bank purchased a new stake in shares of Incyte during the second quarter worth $96,776,000. Pacer Advisors Inc. raised its stake in shares of Incyte by 8,091.6% in the third quarter. Pacer Advisors Inc. now owns 1,248,642 shares of the biopharmaceutical company’s stock valued at $105,897,000 after acquiring an additional 1,233,399 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Incyte in the second quarter valued at $82,485,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Company Profile

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.