Incyte’s (INCY) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Incyte (NASDAQ:INCY) in a research note released on Tuesday,Benzinga reports.

Several other equities research analysts have also weighed in on INCY. BMO Capital Markets reissued an “underperform” rating and set a $52.00 price objective (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Morgan Stanley raised their price objective on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Wolfe Research started coverage on Incyte in a research note on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price objective for the company. Truist Financial reissued a “hold” rating and set a $74.00 price objective (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Finally, Bank of America raised Incyte from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.16.

Incyte Stock Up 1.9 %

Shares of INCY stock opened at $71.72 on Tuesday. Incyte has a 1 year low of $50.35 and a 1 year high of $83.95. The stock has a market cap of $13.82 billion, a PE ratio of 512.29, a price-to-earnings-growth ratio of 8.14 and a beta of 0.71. The business’s fifty day moving average is $69.90 and its 200-day moving average is $64.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (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 analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. Equities analysts expect that Incyte will post 0.4 earnings per share for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. This trade represents a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction dated 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 owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,702 shares of company stock valued at $856,166. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Incyte

Institutional investors have recently bought and sold shares of the stock. MFA Wealth Advisors LLC bought a new position in shares of Incyte in the second quarter worth about $26,000. Brooklyn Investment Group bought a new position in shares of Incyte in the third quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte in the third quarter worth about $33,000. Innealta Capital LLC bought a new position in shares of Incyte in the second quarter worth about $32,000. Finally, Cromwell Holdings LLC increased its stake in shares of Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares during the period. 96.97% of the stock is currently owned by institutional investors.

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.