Incyte (NASDAQ:INCY) Earns “Neutral” Rating from Cantor Fitzgerald

Incyte (NASDAQ:INCY)‘s stock had its “neutral” rating reiterated by analysts at Cantor Fitzgerald in a research note issued on Friday,Benzinga reports.

Several other brokerages also recently commented on INCY. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. UBS Group began coverage on Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer boosted their target price on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Citigroup raised their target price on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus price target of $76.29.

Incyte Price Performance

NASDAQ INCY opened at $70.54 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte has a 12 month low of $50.35 and a 12 month high of $83.95. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 503.89, a PEG ratio of 7.90 and a beta of 0.71. The company’s 50 day moving average is $73.13 and its two-hundred day moving average is $67.58.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. As a group, research analysts anticipate that Incyte will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the transaction, the insider now owns 23,312 shares in the company, valued at $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,023 shares of company stock worth $839,711 over the last three months. 17.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Incyte

A number of large investors have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in shares of Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after purchasing an additional 2,676,851 shares during the last quarter. AQR Capital Management LLC boosted its position in Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after buying an additional 1,101,041 shares during the period. Point72 Asset Management L.P. bought a new position in Incyte in the 3rd quarter worth about $156,611,000. Mizuho Securities USA LLC increased its position in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after acquiring an additional 1,985,726 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after acquiring an additional 364,169 shares in the last quarter. Hedge funds and other institutional investors 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.