Incyte (NASDAQ:INCY) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Incyte (NASDAQ:INCY) in a research note issued to investors on Monday morning, Benzinga reports.

Several other brokerages have also issued reports on INCY. JPMorgan Chase & Co. lifted their price objective on shares of Incyte from $59.00 to $61.00 and gave the company a neutral rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price target on Incyte from $55.00 to $60.00 and gave the stock a hold rating in a research report on Thursday, August 1st. Oppenheimer decreased their price objective on Incyte from $84.00 to $81.00 and set an outperform rating for the company in a research note on Friday, July 26th. 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. Finally, William Blair reissued an outperform rating on shares of Incyte in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $73.24.

Incyte Price Performance

INCY opened at $66.82 on Monday. The company has a market capitalization of $15.00 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 5.03 and a beta of 0.73. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. Incyte has a 12-month low of $50.27 and a 12-month high of $70.36. The business’s fifty day simple moving average is $64.32 and its 200-day simple moving average is $59.75.

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). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. On average, equities research analysts anticipate that Incyte will post 0.67 earnings per share for the current fiscal year.

Insider Transactions at Incyte

In related news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was 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 directly owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the sale, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,032,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,047 shares of company stock worth $2,225,626. Company insiders own 17.50% of the company’s stock.

Institutional Trading of Incyte

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cape Investment Advisory Inc. purchased a new stake in Incyte in the fourth quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Incyte in the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Incyte in the first quarter worth about $28,000. Riverview Trust Co acquired a new stake in Incyte during the first quarter worth about $29,000. Finally, Fidelis Capital Partners LLC purchased a new position in Incyte during the first quarter valued at approximately $32,000. Institutional investors and hedge funds 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.