Brokerages Set Incyte Co. (INCY) Target Price at $142.92

Shares of Incyte Co. (NASDAQ:INCY) have received an average rating of “Buy” from the twenty-seven brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, fifteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $132.98.

Several brokerages have recently weighed in on INCY. ValuEngine cut Incyte from a “hold” rating to a “sell” rating in a research report on Saturday. SunTrust Banks reiterated a “buy” rating and issued a $80.00 price target on shares of Incyte in a research report on Friday. Raymond James Financial set a $85.00 price target on Incyte and gave the company a “buy” rating in a research report on Friday. Guggenheim reiterated a “neutral” rating on shares of Incyte in a research report on Friday. Finally, William Blair reiterated a “market perform” rating on shares of Incyte in a research report on Friday.

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In related news, EVP Reid M. Huber sold 1,958 shares of Incyte stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.55, for a total transaction of $167,506.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David W. Gryska sold 1,952 shares of Incyte stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.56, for a total value of $167,013.12. Following the sale, the insider now directly owns 12,922 shares of the company’s stock, valued at approximately $1,105,606.32. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB lifted its stake in Incyte by 9.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 30,627 shares of the biopharmaceutical company’s stock worth $2,901,000 after purchasing an additional 2,749 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Incyte by 13.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 79,710 shares of the biopharmaceutical company’s stock worth $7,549,000 after purchasing an additional 9,371 shares during the last quarter. Griffin Asset Management Inc. bought a new stake in Incyte during the fourth quarter worth about $200,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Incyte by 1,923.9% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 38,292 shares of the biopharmaceutical company’s stock worth $1,256,000 after purchasing an additional 36,400 shares during the last quarter. Finally, Westover Capital Advisors LLC bought a new stake in Incyte during the fourth quarter worth about $228,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:INCY opened at $64.02 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.01 and a quick ratio of 3.99. Incyte has a 1 year low of $63.43 and a 1 year high of $142.45. The firm has a market capitalization of $17,594.12, a price-to-earnings ratio of 100.03 and a beta of 0.66.

Incyte (NASDAQ:INCY) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.54. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. The business had revenue of $444.20 million during the quarter, compared to the consensus estimate of $435.23 million. During the same period last year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. equities research analysts predict that Incyte will post -0.21 EPS for the current fiscal year.

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About Incyte

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

Analyst Recommendations for Incyte (NASDAQ:INCY)

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