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

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

Other analysts have also issued research reports about the company. Citigroup boosted their target price on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Wolfe Research initiated coverage on Incyte in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price for the company. Wells Fargo & Company raised their price objective on shares of Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $77.16.

Incyte Stock Down 10.9 %

Shares of NASDAQ:INCY opened at $68.60 on Tuesday. The company has a market capitalization of $13.22 billion, a price-to-earnings ratio of 490.04, a PEG ratio of 8.75 and a beta of 0.71. Incyte has a 12-month low of $50.35 and a 12-month high of $83.95. The business has a 50-day moving average price of $69.28 and a 200 day moving average price of $64.07. 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 results 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 analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. Incyte’s revenue was up 23.8% on a year-over-year basis. Sell-side analysts expect that Incyte will post 0.4 EPS for the current year.

Insider Activity at Incyte

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,702 shares of company stock valued at $856,166 in the last ninety days. Insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 196,440 shares during the period. Acadian Asset Management LLC increased its stake in Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after purchasing an additional 779,243 shares during the period. LSV Asset Management raised its holdings in shares of Incyte by 0.5% in the second quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock valued at $167,911,000 after buying an additional 15,115 shares during the last quarter. 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 worth $163,200,000 after buying an additional 2,676,851 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Incyte by 70.5% during the second 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 last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

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.