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

Cantor Fitzgerald reissued their neutral rating on shares of Incyte (NASDAQ:INCY) in a report issued on Friday morning,Benzinga reports.

INCY has been the topic of several other research reports. UBS Group initiated coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Royal Bank of Canada boosted their target price on Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group increased their price target on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $76.29.

Incyte Price Performance

NASDAQ:INCY opened at $70.54 on Friday. Incyte has a 52-week low of $50.35 and a 52-week high of $83.95. The stock has a fifty day moving average of $73.13 and a 200 day moving average of $67.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The firm has a market capitalization of $13.59 billion, a price-to-earnings ratio of 503.89, a P/E/G ratio of 7.90 and a beta of 0.71.

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

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 11,023 shares of company stock worth $839,711 over the last quarter. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Brooklyn Investment Group bought a new stake in shares of Incyte during the 3rd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte during the 3rd quarter valued at about $33,000. Cromwell Holdings LLC grew its holdings in Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Incyte during the second quarter valued at approximately $36,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Incyte during the third quarter valued at approximately $45,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.