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

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

Other analysts have also recently issued research reports about the company. Bank of America upped their price objective on Incyte from $62.00 to $66.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on Incyte from $59.00 to $61.00 and gave the company a neutral rating in a research report on Wednesday, July 31st. BMO Capital Markets reaffirmed an underperform rating and issued a $48.00 price objective (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Royal Bank of Canada reiterated a sector perform rating and set a $67.00 target price on shares of Incyte in a research note on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Incyte from $55.00 to $60.00 and gave the stock a hold rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $73.24.

Incyte Stock Down 1.9 %

Shares of NASDAQ:INCY opened at $65.17 on Monday. The firm has a market cap of $14.63 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. The company has a fifty day simple moving average of $64.23 and a 200 day simple moving average of $59.70. 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.

Incyte (NASDAQ:INCY) last released its 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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate 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 firm posted $0.77 EPS. On average, equities research analysts anticipate that Incyte will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 8,148 shares of the stock in a transaction 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 of the company’s stock, valued at $3,032,040. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Barry P. Flannelly sold 8,148 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the sale, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the transaction, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock valued at $2,225,626 in the last quarter. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Incyte

A number of hedge funds and other institutional investors have recently modified their holdings of INCY. Pacer Advisors Inc. grew its holdings in Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares during the period. Norges Bank bought a new position in shares of Incyte during the 4th quarter valued at about $123,253,000. AQR Capital Management LLC boosted its position in shares of Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after purchasing an additional 1,101,041 shares in the last quarter. KBC Group NV grew its stake in shares of Incyte by 842.2% in the 4th quarter. KBC Group NV now owns 955,749 shares of the biopharmaceutical company’s stock worth $60,011,000 after purchasing an additional 854,311 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after purchasing an additional 779,243 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

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.