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

Cantor Fitzgerald reiterated their neutral rating on shares of Incyte (NASDAQ:INCY) in a research note issued to investors on Monday, Benzinga reports.

Other analysts have also issued research reports about the company. Oppenheimer decreased their price objective on Incyte from $84.00 to $81.00 and set an outperform rating on the stock in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their price target on shares of Incyte from $59.00 to $61.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Citigroup boosted their price objective on shares of Incyte from $80.00 to $88.00 and gave the company a buy rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a hold rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets reiterated an underperform rating and issued a $48.00 price target (down from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $73.24.

Incyte Stock Down 1.9 %

Shares of NASDAQ INCY opened at $65.17 on Monday. The firm’s 50-day moving average is $64.23 and its two-hundred day moving average is $59.70. The company has a market capitalization of $14.63 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. Incyte has a 12-month low of $50.27 and a 12-month high of $70.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. Incyte’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. Equities analysts anticipate that Incyte will post 0.67 EPS for the current fiscal year.

Insider Activity

In related news, insider Thomas Tray sold 572 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 1,306 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the completion of the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock valued at $2,225,626 in the last three months. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Incyte

Several hedge funds and other institutional investors have recently bought and sold shares of INCY. Pacer Advisors Inc. grew its position in Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after acquiring an additional 2,676,851 shares in the last quarter. Norges Bank acquired a new stake in Incyte during the 4th quarter valued at $123,253,000. AQR Capital Management LLC increased its stake 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 worth $159,905,000 after buying an additional 1,101,041 shares during the period. KBC Group NV lifted its holdings in Incyte by 842.2% in the 4th quarter. KBC Group NV now owns 955,749 shares of the biopharmaceutical company’s stock worth $60,011,000 after buying an additional 854,311 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after buying an additional 779,243 shares during the last quarter. 96.97% of the stock is 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.