Incyte Co. (NASDAQ:INCY) Given Consensus Rating of “Buy” by Brokerages

Incyte Co. (NASDAQ:INCY) has received an average recommendation of “Buy” from the twenty-four analysts that are covering the stock, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $87.86.

INCY has been the subject of a number of research analyst reports. BidaskClub downgraded Incyte from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Credit Suisse Group initiated coverage on Incyte in a report on Monday, May 20th. They issued a “neutral” rating and a $75.00 target price for the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a report on Tuesday, April 30th. Oppenheimer set a $85.00 target price on Incyte and gave the stock a “hold” rating in a report on Sunday, April 7th. Finally, Cowen restated a “buy” rating on shares of Incyte in a report on Monday, May 27th.

In other news, EVP Paula J. Swain sold 10,000 shares of the business’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 transaction of $870,100.00. Following the completion of the sale, the executive vice president now owns 38,295 shares in the company, valued at $3,332,047.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Paula J. Swain sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $80.00, for a total value of $200,000.00. Following the sale, the executive vice president now owns 39,013 shares of the company’s stock, valued at approximately $3,121,040. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,857 shares of company stock valued at $1,805,182. Corporate insiders own 17.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in INCY. Bremer Bank National Association bought a new stake in Incyte during the first quarter worth $31,000. CX Institutional grew its holdings in Incyte by 1,496.7% during the first quarter. CX Institutional now owns 479 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 449 shares in the last quarter. Bremer Trust National Association bought a new stake in Incyte during the fourth quarter worth $42,000. Bronfman E.L. Rothschild L.P. grew its holdings in Incyte by 46.3% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 730 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 231 shares in the last quarter. Finally, Machina Capital S.A.S. bought a new stake in Incyte during the fourth quarter worth $48,000. Institutional investors and hedge funds own 90.52% of the company’s stock.

Shares of INCY stock opened at $84.96 on Friday. The company has a market capitalization of $18.17 billion, a P/E ratio of 103.61 and a beta of 1.20. The business has a 50 day simple moving average of $80.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.21 and a current ratio of 5.22. Incyte has a fifty-two week low of $57.00 and a fifty-two week high of $89.30.

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

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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