Incyte Corporation (NASDAQ:INCY) Receives $74.53 Consensus Target Price from Analysts

Incyte Corporation (NASDAQ:INCY - Get Free Report) has been given an average recommendation of "Hold" by the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $74.53.

INCY has been the subject of a number of recent analyst reports. Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target for the company. in a research report on Tuesday, March 18th. Citigroup reissued a "buy" rating on shares of Incyte in a report on Tuesday, June 3rd. Royal Bank Of Canada set a $67.00 target price on shares of Incyte and gave the company a "sector perform" rating in a research note on Monday, June 23rd. Wells Fargo & Company lifted 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. Finally, Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th.

Incyte Stock Down 1.7%

Incyte stock traded down $1.18 during midday trading on Monday, hitting $67.27. 1,640,111 shares of the stock were exchanged, compared to its average volume of 1,968,302. Incyte has a 1 year low of $53.56 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00. The firm has a market cap of $13.02 billion, a P/E ratio of 210.23, a P/E/G ratio of 0.58 and a beta of 0.68. The company has a 50 day moving average price of $65.52 and a two-hundred day moving average price of $66.66.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $996.17 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company's revenue was up 19.5% compared to the same quarter last year. On average, sell-side analysts predict that Incyte will post 4.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Incyte

Large investors have recently made changes to their positions in the company. Banque Transatlantique SA bought a new position in shares of Incyte during the 1st quarter valued at about $26,000. Raiffeisen Bank International AG acquired a new position in Incyte during the fourth quarter worth $34,000. SVB Wealth LLC bought a new position in Incyte in the 1st quarter valued at $39,000. Geneos Wealth Management Inc. lifted its holdings in Incyte by 350.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company's stock worth $46,000 after buying an additional 588 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in Incyte during the 1st quarter worth $47,000. Institutional investors and hedge funds own 96.97% of the company's stock.

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.