Incyte (NASDAQ:INCY) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Incyte (NASDAQ:INCY) in a research report sent to investors on Friday,Benzinga reports.

INCY has been the topic of several other research reports. Truist Financial reiterated a “hold” rating and issued a $74.00 price target (down previously from $83.00) on shares of Incyte in a report on Wednesday, September 18th. UBS Group assumed coverage on shares of Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Finally, The Goldman Sachs Group boosted their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and an average target price of $76.29.

Incyte Stock Performance

Shares of INCY stock opened at $70.54 on Friday. The firm has a 50 day moving average of $73.13 and a 200-day moving average of $67.55. The company has a market cap 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 quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. On average, equities analysts forecast that Incyte will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the sale, the insider now directly owns 23,962 shares in the company, valued at $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,023 shares of company stock worth $839,711 over the last three months. 17.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Incyte

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INCY. Orion Portfolio Solutions LLC bought a new position in Incyte in the 3rd quarter worth approximately $770,000. CWA Asset Management Group LLC purchased a new position in shares of Incyte in the fourth quarter valued at $1,933,000. Greenwood Capital Associates LLC purchased a new position in shares of Incyte in the third quarter valued at $433,000. Tri Ri Asset Management Corp purchased a new stake in Incyte during the 3rd quarter worth about $3,292,000. Finally, Cypress Capital Group bought a new position in Incyte in the 3rd quarter worth about $971,000. 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.