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

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

A number of other research firms also recently issued reports on INCY. BMO Capital Markets reissued an “underperform” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Morgan Stanley upped their target price on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Wolfe Research started coverage on shares of Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price target on the stock. Finally, UBS Group started coverage on shares of Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average target price of $76.29.

Incyte Stock Performance

NASDAQ:INCY traded down $2.96 during mid-day trading on Friday, reaching $70.17. The company’s stock had a trading volume of 798,566 shares, compared to its average volume of 1,451,422. The firm’s fifty day moving average price is $73.24 and its two-hundred day moving average price is $67.50. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.52 billion, a P/E ratio of 501.25, a PEG ratio of 7.90 and a beta of 0.71. Incyte has a 12-month low of $50.35 and a 12-month high of $83.95.

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

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 650 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the transaction, the insider now owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, 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 have sold 11,023 shares of company stock worth $839,711 over the last quarter. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Incyte

Institutional investors have recently modified their holdings of the stock. Haverford Trust Co grew its stake 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 purchasing an additional 135 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 155 shares during the period. Tectonic Advisors LLC raised its holdings in shares of Incyte by 1.6% in the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock valued at $819,000 after acquiring an additional 190 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Incyte by 4.4% in the third quarter. MML Investors Services LLC now owns 6,063 shares of the biopharmaceutical company’s stock valued at $401,000 after acquiring an additional 256 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in Incyte by 1.1% in the third quarter. Crossmark Global Holdings Inc. now owns 25,079 shares of the biopharmaceutical company’s stock worth $1,657,000 after acquiring an additional 276 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.