Cantor Fitzgerald Reaffirms “Neutral” Rating for Incyte (NASDAQ:INCY)

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

Several other research firms have also commented on INCY. UBS Group initiated coverage on Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target for the company. 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. JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Citigroup boosted their price objective on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Incyte has an average rating of “Hold” and an average target price of $76.29.

Incyte Trading Down 3.5 %

NASDAQ INCY opened at $70.54 on Friday. The company’s 50-day simple moving average is $73.13 and its two-hundred day simple moving average is $67.58. Incyte has a one year low of $50.35 and a one year high of $83.95. The company has a market capitalization of $13.59 billion, a price-to-earnings ratio of 503.89, a price-to-earnings-growth ratio of 7.90 and a beta of 0.71. 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 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 business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Equities analysts forecast that Incyte will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction on Monday, December 16th. The shares were 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,023 shares of company stock valued at $839,711 over the last quarter. 17.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Incyte

A number of hedge funds and other institutional investors have recently made changes to their positions in INCY. Brooklyn Investment Group acquired a new position in Incyte in the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte in the third quarter valued at approximately $33,000. Cromwell Holdings LLC raised its stake in shares of Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Incyte during the 2nd quarter valued at approximately $36,000. Finally, Capital Performance Advisors LLP acquired a new stake in Incyte in the 3rd quarter valued at $45,000. Institutional investors and hedge funds 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.