Incyte Co. (INCY) Receives Average Rating of “Hold” from Brokerages

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Shares of Incyte Co. (NASDAQ:INCY) have been assigned an average rating of “Hold” from the twenty-four brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $92.67.

A number of equities research analysts recently commented on INCY shares. Royal Bank of Canada lowered Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 target price on the stock. in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. Argus upped their target price on Incyte from $83.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, February 25th. Barclays lowered Incyte from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $90.00 to $82.00 in a research report on Friday, May 3rd. Zacks Investment Research lowered Incyte from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 23rd. Finally, BidaskClub upgraded Incyte from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd.

NASDAQ INCY traded down $0.44 during trading hours on Friday, reaching $77.20. The stock had a trading volume of 729,544 shares, compared to its average volume of 1,455,844. The firm has a market cap of $16.30 billion, a P/E ratio of 94.15 and a beta of 1.31. Incyte has a 52-week low of $57.00 and a 52-week high of $88.83. The company has a quick ratio of 5.21, a current ratio of 5.22 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.29. The firm had revenue of $497.86 million for the quarter, compared to analyst estimates of $488.00 million. Incyte had a return on equity of 13.28% and a net margin of 12.66%. Incyte’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. As a group, research analysts expect that Incyte will post 1.78 earnings per share for the current year.

In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $87.01, for a total value of $870,100.00. Following the sale, the executive vice president now owns 38,295 shares in the company, valued at approximately $3,332,047.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 17.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in INCY. Dimensional Fund Advisors LP boosted its position in Incyte by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 287,924 shares of the biopharmaceutical company’s stock worth $19,889,000 after purchasing an additional 864 shares in the last quarter. Man Group plc raised its stake in shares of Incyte by 167.5% during the 3rd quarter. Man Group plc now owns 36,635 shares of the biopharmaceutical company’s stock worth $2,531,000 after buying an additional 22,938 shares during the period. Nordea Investment Management AB raised its stake in shares of Incyte by 18.7% during the 3rd quarter. Nordea Investment Management AB now owns 10,188 shares of the biopharmaceutical company’s stock worth $703,000 after buying an additional 1,607 shares during the period. Legal & General Group Plc raised its stake in shares of Incyte by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 777,438 shares of the biopharmaceutical company’s stock worth $53,706,000 after buying an additional 25,136 shares during the period. Finally, Vanguard Group Inc raised its stake in shares of Incyte by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock worth $1,269,746,000 after buying an additional 120,700 shares during the period. Institutional investors and hedge funds own 92.20% of the company’s stock.

About Incyte

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

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Analyst Recommendations for Incyte (NASDAQ:INCY)

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