Incyte (NASDAQ:INCY – Get Free Report) had its price objective hoisted by stock analysts at Sanford C. Bernstein from $104.00 to $108.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. Sanford C. Bernstein‘s price objective points to a potential downside of 9.43% from the company’s current price.
A number of other analysts have also commented on the company. Truist Financial boosted their price target on Incyte from $105.00 to $115.00 and gave the company a “hold” rating in a report on Wednesday, October 14th. Guggenheim raised their price objective on shares of Incyte from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Zacks Research cut Incyte from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. Barclays lifted their price objective on shares of Incyte from $139.00 to $143.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Benchmark reissued a “buy” rating on shares of Incyte in a report on Tuesday, October 13th. Twelve analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $133.10.
Read Our Latest Report on INCY
Incyte Price Performance
Shares of Incyte stock traded down $1.14 on Monday, hitting $119.25. 644,700 shares of the company’s stock traded hands, compared to its average volume of 1,733,547. Incyte has a one year low of $89.25 and a one year high of $132.60. The firm’s 50-day moving average price is $120.49 and its two-hundred day moving average price is $108.14. The stock has a market capitalization of $24.31 billion, a PE ratio of 63.43, a price-to-earnings-growth ratio of 4.99 and a beta of 0.78.
Incyte (NASDAQ:INCY – Get Free Report) last posted its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($3.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.93) by $0.33. Incyte had a return on equity of 7.92% and a net margin of 6.71%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned $2.26 EPS. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, analysts forecast that Incyte will post 1.97 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Pablo Cagnoni sold 2,642 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $112.71, for a total transaction of $297,779.82. Following the sale, the insider owned 183,200 shares in the company, valued at approximately $20,648,472. This trade represents a 1.42% decrease in their position. 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 16.20% of the company’s stock.
Institutional Investors Weigh In On Incyte
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its stake in shares of Incyte by 79.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 28,761 shares of the biopharmaceutical company’s stock valued at $3,490,000 after purchasing an additional 12,737 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Incyte by 13.6% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,603 shares of the biopharmaceutical company’s stock valued at $764,000 after purchasing an additional 789 shares in the last quarter. Caldwell Trust Co bought a new stake in shares of Incyte during the 3rd quarter valued at approximately $307,000. Compass Financial Management LLC bought a new stake in shares of Incyte during the 3rd quarter valued at approximately $2,378,000. Finally, Mraz Amerine & Associates Inc. bought a new stake in shares of Incyte during the 3rd quarter valued at approximately $201,000. 96.97% of the stock is currently owned by institutional investors.
About Incyte
Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.
Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.
Featured Stories
- Five stocks we like better than Incyte
- AbbVie’s Humira Era Is Fading, But Its New Growth Engines Face Another Test
- GLP-1 Focus or Broader Peptide Exposure: Which ETF Has the Edge?
- Mortgage Rates Froze U.S. Housing, But These 3 Overseas Markets Still Pay Double Digits
- Big Tech Is Spending Billions on AI—These 5 Stocks Are Getting Paid
Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.
