Incyte’s (INCY) Neutral Rating Reaffirmed at Cantor Fitzgerald

Incyte (NASDAQ:INCY)‘s stock had its “neutral” rating restated by investment analysts at Cantor Fitzgerald in a research note issued to investors on Friday,Benzinga reports.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company raised their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Guggenheim upped their price objective on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, September 16th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Finally, Truist Financial reiterated a “hold” rating and issued a $74.00 price objective (down previously from $83.00) on shares of Incyte in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $76.29.

Incyte Price Performance

Shares of INCY stock traded down $2.96 on Friday, reaching $70.17. The company’s stock had a trading volume of 798,566 shares, compared to its average volume of 1,451,422. Incyte has a 12-month low of $50.35 and a 12-month high of $83.95. The stock’s 50 day simple moving average is $73.24 and its 200-day simple moving average is $67.50. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $13.52 billion, a P/E ratio of 501.25, a PEG ratio of 7.90 and a beta of 0.71.

Incyte (NASDAQ:INCY) last announced its 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). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. As a group, equities analysts predict that Incyte will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s 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 owns 30,658 shares in the company, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Tray sold 650 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares in the company, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,023 shares of company stock worth $839,711. 17.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.