Incyte’s (INCY) “Neutral” Rating Reaffirmed at Cantor Fitzgerald

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

A number of other analysts have also issued reports on INCY. Oppenheimer raised their target price on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup raised their price target on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets reiterated an “underperform” rating and set a $52.00 price objective (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.16.

Incyte Price Performance

Incyte stock opened at $71.05 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $69.59 and its 200 day simple moving average is $64.24. Incyte has a 52 week low of $50.35 and a 52 week high of $83.95. The firm has a market capitalization of $13.69 billion, a PE ratio of 507.54, a P/E/G ratio of 8.75 and a beta of 0.71.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. On average, equities research analysts predict that Incyte will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the sale, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,702 shares of company stock worth $856,166. 17.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Incyte

Several hedge funds have recently made changes to their positions in INCY. Haverford Trust Co increased its position in Incyte by 1.8% in the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after buying an additional 135 shares during the period. V Square Quantitative Management LLC lifted its position in Incyte by 4.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 155 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 164 shares during the period. Moody National Bank Trust Division increased its stake in shares of Incyte by 1.3% in the second quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 179 shares during the period. Finally, Ballentine Partners LLC grew its holdings in Incyte by 4.0% in the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after buying an additional 182 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

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.