Analysts Set Incyte Co. (NASDAQ:INCY) Price Target at $72.53

Shares of Incyte Co. (NASDAQ:INCY - Get Free Report) have received an average recommendation of "Hold" from the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $72.53.

INCY has been the subject of a number of research analyst reports. Citigroup restated a "buy" rating on shares of Incyte in a report on Tuesday, June 3rd. Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Wells Fargo & Company upped their price target on Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Guggenheim lowered Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective on the stock. in a research note on Tuesday, March 18th. Finally, UBS Group reiterated a "neutral" rating and set a $61.00 target price on shares of Incyte in a report on Tuesday, June 3rd.

Insiders Place Their Bets

In related news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. This trade represents a 37.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INCY. Inspire Investing LLC raised its holdings in shares of Incyte by 11.7% during the first quarter. Inspire Investing LLC now owns 23,052 shares of the biopharmaceutical company's stock valued at $1,396,000 after acquiring an additional 2,411 shares during the period. Invst LLC purchased a new position in Incyte during the 1st quarter valued at about $315,000. Strs Ohio acquired a new position in shares of Incyte in the 1st quarter valued at about $2,064,000. Jacobi Capital Management LLC lifted its position in shares of Incyte by 5.8% in the first quarter. Jacobi Capital Management LLC now owns 11,573 shares of the biopharmaceutical company's stock worth $701,000 after purchasing an additional 636 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Incyte by 65.6% during the first quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company's stock worth $152,062,000 after purchasing an additional 994,609 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Trading Up 0.5%

INCY traded up $0.37 during midday trading on Thursday, hitting $69.22. The company's stock had a trading volume of 1,217,878 shares, compared to its average volume of 2,120,555. Incyte has a 52-week low of $53.56 and a 52-week high of $83.95. The firm has a 50-day moving average price of $61.91 and a two-hundred day moving average price of $67.17. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The firm has a market cap of $13.40 billion, a P/E ratio of 256.38, a PEG ratio of 0.41 and a beta of 0.67.

Incyte (NASDAQ:INCY - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. Incyte's revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, research analysts anticipate that Incyte will post 4.86 earnings per share for the current year.

About Incyte

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.