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

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

Several other brokerages have also recently weighed in on INCY. Oppenheimer reduced their price target on Incyte from $84.00 to $81.00 and set an outperform rating on the stock in a research note on Friday, July 26th. Citigroup upped their price target on Incyte from $80.00 to $88.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. BMO Capital Markets reissued an underperform rating and issued a $48.00 target price (down from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Bank of America boosted their target price on Incyte from $62.00 to $66.00 and gave the stock a neutral rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $67.00 target price on shares of Incyte in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Incyte has a consensus rating of Hold and an average target price of $73.29.

Incyte Price Performance

Shares of INCY stock opened at $63.13 on Monday. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 4.88 and a beta of 0.73. The business’s fifty day moving average is $63.63 and its 200 day moving average is $59.52. Incyte has a twelve month low of $50.27 and a twelve month 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 quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($2.60). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. Incyte’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share. Research analysts expect that Incyte will post 0.67 EPS for the current fiscal year.

Insider Activity at Incyte

In related news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction on 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 directly owns 36,701 shares of the company’s stock, valued at $2,569,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of the firm’s stock in a transaction dated 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 $2,569,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 directly owns 50,534 shares in the company, valued at $3,032,040. The disclosure for this sale can be found here. Insiders have sold 25,025 shares of company stock valued at $1,662,682 over the last ninety days. Insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of INCY. Cape Investment Advisory Inc. purchased a new position in Incyte in the fourth quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new position in Incyte in the second quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Incyte in the first quarter worth about $28,000. Riverview Trust Co bought a new position in shares of Incyte in the first quarter worth about $29,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Incyte in the first quarter worth about $32,000. 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.