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

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

A number of other research analysts also recently weighed in on the company. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Truist Financial restated a “buy” rating and issued a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Jefferies Financial Group assumed coverage on shares of Incyte in a research report on Friday, February 23rd. They issued a “buy” rating and a $81.00 price objective for the company. Oppenheimer lowered their price objective on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, Bank of America lowered their price objective on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $73.69.

Incyte Stock Down 2.0 %

NASDAQ:INCY opened at $61.44 on Tuesday. The stock’s fifty day moving average price is $56.15 and its two-hundred day moving average price is $58.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 1.35 and a beta of 0.74. Incyte has a 52-week low of $50.27 and a 52-week high of $67.36.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The company had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. On average, analysts anticipate that Incyte will post 3.57 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the transaction, the executive vice president now owns 66,377 shares in the company, valued at approximately $3,982,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the sale, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the sale, the executive vice president now owns 66,377 shares of the company’s stock, valued at $3,982,620. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Incyte

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Incyte by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock valued at $1,294,120,000 after purchasing an additional 196,440 shares during the last quarter. Invesco Ltd. lifted its position in Incyte by 3.2% during the third quarter. Invesco Ltd. now owns 3,922,045 shares of the biopharmaceutical company’s stock worth $226,577,000 after acquiring an additional 120,838 shares during the last quarter. LSV Asset Management lifted its position in Incyte by 2.3% during the first quarter. LSV Asset Management now owns 2,754,777 shares of the biopharmaceutical company’s stock worth $156,940,000 after acquiring an additional 62,950 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Incyte by 7.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,514,634 shares of the biopharmaceutical company’s stock worth $143,259,000 after acquiring an additional 177,852 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Incyte by 5.9% during the third quarter. Northern Trust Corp now owns 2,127,688 shares of the biopharmaceutical company’s stock worth $122,917,000 after acquiring an additional 119,389 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

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.