Incyte (NASDAQ:INCY) Receives New Coverage from Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Incyte (NASDAQ:INCY) in a research report report published on Tuesday, Marketbeat.com reports. The brokerage issued a neutral rating on the biopharmaceutical company’s stock.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets increased their price target on Incyte from $58.00 to $64.00 and gave the stock a market perform rating in a research note on Wednesday, February 14th. JMP Securities downgraded Incyte from an outperform rating to a market perform rating in a research note on Wednesday, February 14th. William Blair reissued an outperform rating on shares of Incyte in a research note on Tuesday, February 6th. Jefferies Financial Group assumed coverage on Incyte in a research note on Friday, February 23rd. They set a buy rating and a $81.00 price target for the company. Finally, Stifel Nicolaus increased their price objective on Incyte from $67.00 to $68.00 and gave the company a hold rating in a report on Wednesday, February 14th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $75.50.

Incyte Trading Up 1.0 %

Incyte stock opened at $51.68 on Tuesday. The stock has a market cap of $11.60 billion, a PE ratio of 19.50, a P/E/G ratio of 1.20 and a beta of 0.65. The stock has a 50-day moving average price of $56.78 and a 200 day moving average price of $57.70. Incyte has a 52 week low of $50.27 and a 52 week high of $75.74. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. Equities research analysts predict that Incyte will post 3.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Incyte

A number of hedge funds have recently modified their holdings of INCY. Cape Investment Advisory Inc. bought a new stake in Incyte during the 4th quarter valued at $25,000. Larson Financial Group LLC grew its position in shares of Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Incyte in the fourth quarter worth $31,000. Redmont Wealth Advisors LLC bought a new position in shares of Incyte in the first quarter worth $28,000. Finally, Riverview Trust Co bought a new position in shares of Incyte in the first quarter worth $29,000. 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.