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

Cantor Fitzgerald reaffirmed their neutral rating on shares of Incyte (NASDAQ:INCY) in a report released on Friday morning,Benzinga reports.

INCY has been the subject of several other research reports. Royal Bank of Canada increased their target price on Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their price target on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price objective on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. 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. Finally, Citigroup raised their price objective on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Incyte presently has a consensus rating of “Hold” and an average target price of $76.29.

Incyte Trading Down 3.5 %

Incyte stock opened at $70.54 on Friday. Incyte has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a market capitalization of $13.59 billion, a price-to-earnings ratio of 503.89, a P/E/G ratio of 7.90 and a beta of 0.71. The firm has a 50 day moving average of $73.13 and a 200 day moving average of $67.62. 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 (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. As a group, research analysts predict that Incyte will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now owns 23,312 shares of the company’s stock, valued at $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,023 shares of company stock valued at $839,711 in the last 90 days. Company insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake 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 valued at $163,200,000 after purchasing an additional 2,676,851 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Incyte during the third quarter worth $156,611,000. Mizuho Securities USA LLC lifted its holdings in 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 buying an additional 1,985,726 shares during the period. AQR Capital Management LLC boosted its position in Incyte by 70.5% during 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 acquiring an additional 1,101,041 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Incyte by 2,486.8% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock valued at $23,923,000 after acquiring an additional 379,390 shares during the period. 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.