Incyte Corporation (NASDAQ:INCY) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Consensus "Hold": 21 analysts give Incyte an average Hold rating (1 sell, 10 hold, 10 buy) with a 12‑month average price target of $104.26.
• Quarterly beat and valuation: Incyte reported Q1 EPS of $1.81 vs. $1.38 expected and revenue of $1.27B (up 20.9% YoY); analysts forecast 6.73 EPS for the year and the stock trades near $96.91 with a P/E of 13.69 and a ~$19.4B market cap.
• Insider transaction and ownership: Insider Pablo J. Cagnoni sold 18,667 shares under a Rule 10b5‑1 plan; insiders hold 17.8% of shares while institutional investors own roughly 96.97%.

Incyte Corporation (NASDAQ:INCY - Get Free Report) has been given an average rating of "Hold" by the twenty-one analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $104.2632.

A number of analysts have recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $135.00 price target on shares of Incyte in a research note on Wednesday, April 15th. Oppenheimer boosted their price objective on shares of Incyte from $84.00 to $90.00 and gave the company a "market perform" rating in a report on Wednesday. Piper Sandler upped their target price on shares of Incyte from $102.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. Morgan Stanley set a $102.00 target price on shares of Incyte in a report on Wednesday, February 11th. Finally, Wells Fargo & Company decreased their price target on shares of Incyte from $107.00 to $101.00 and set an "equal weight" rating for the company in a report on Wednesday, February 11th.

Incyte Stock Up 1.7%

NASDAQ:INCY opened at $96.91 on Friday. The company has a quick ratio of 3.25, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. Incyte has a 12-month low of $57.77 and a 12-month high of $112.29. The stock's fifty day simple moving average is $95.71 and its 200-day simple moving average is $98.83. The firm has a market capitalization of $19.36 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.94 and a beta of 0.79.

Incyte (NASDAQ:INCY - Get Free Report) last released its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The company's quarterly revenue was up 20.9% on a year-over-year basis. Equities research analysts expect that Incyte will post 6.73 earnings per share for the current year.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the transaction, the insider directly owned 262,692 shares in the company, valued at approximately $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.80% of the company's stock.

Hedge Funds Weigh In On Incyte

Several institutional investors have recently modified their holdings of the business. Jacobi Capital Management LLC increased its stake in Incyte by 0.9% during the 4th quarter. Jacobi Capital Management LLC now owns 10,613 shares of the biopharmaceutical company's stock worth $1,048,000 after purchasing an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Incyte by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company's stock valued at $1,864,000 after buying an additional 100 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Incyte by 7.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,628 shares of the biopharmaceutical company's stock valued at $161,000 after buying an additional 113 shares during the period. Bank of Nova Scotia increased its position in shares of Incyte by 0.7% during the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company's stock worth $1,160,000 after acquiring an additional 124 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Incyte by 0.9% during the third quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company's stock worth $1,235,000 after acquiring an additional 125 shares during the period. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.