Incyte (NASDAQ:INCY) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Incyte (NASDAQ:INCY) in a report released on Monday morning, Benzinga reports.

Several other brokerages also recently issued reports on INCY. Deutsche Bank Aktiengesellschaft lifted their target price on Incyte from $55.00 to $60.00 and gave the company a hold rating in a research note on Thursday, August 1st. BMO Capital Markets reissued an underperform rating and set a $48.00 target price (down previously from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Citigroup lifted their target price on Incyte from $80.00 to $88.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Royal Bank of Canada reaffirmed a sector perform rating and issued a $67.00 price objective on shares of Incyte in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Incyte from $59.00 to $61.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Incyte has an average rating of Hold and a consensus target price of $73.29.

Incyte Price Performance

NASDAQ INCY opened at $63.13 on Monday. The stock’s 50-day moving average price is $63.63 and its 200-day moving average price is $59.52. The company has a market capitalization of $14.18 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 4.88 and a beta of 0.73. Incyte has a 52 week low of $50.27 and a 52 week high of $70.36. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.77 EPS. On average, equities research analysts predict that Incyte will post 0.67 earnings per share for the current year.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 8,148 shares of Incyte stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the transaction, the executive vice president now owns 50,534 shares in the company, valued at approximately $3,032,040. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Barry P. Flannelly sold 8,148 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the transaction, the executive vice president now owns 50,534 shares in the company, valued at approximately $3,032,040. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 15,571 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,025 shares of company stock worth $1,662,682. 17.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Incyte

A number of large investors have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators boosted its holdings in Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 164 shares during the period. Moody National Bank Trust Division boosted its holdings in Incyte by 1.3% during the 2nd quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after acquiring an additional 179 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Incyte by 4.0% in the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after buying an additional 182 shares during the period. 180 Wealth Advisors LLC lifted its holdings in shares of Incyte by 4.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 204 shares during the period. Finally, Empirical Finance LLC lifted its holdings in shares of Incyte by 3.7% in the 1st quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock worth $364,000 after buying an additional 230 shares during the period. Hedge funds and other 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.