Incyte (NASDAQ:INCY) Given "Neutral" Rating at Cantor Fitzgerald

Incyte (NASDAQ:INCY - Get Free Report)'s stock had its "neutral" rating reiterated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports.

A number of other research analysts have also issued reports on the stock. 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 target price on the stock. Citigroup increased their target price on shares of Incyte from $92.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Guggenheim increased their price target on shares of Incyte from $86.00 to $92.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. William Blair reiterated an "outperform" rating on shares of Incyte in a research report on Friday, December 13th. Finally, The Goldman Sachs Group increased their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $76.29.

Incyte Stock Performance

Incyte stock traded down $2.59 during trading hours on Friday, hitting $70.54. The company had a trading volume of 2,045,962 shares, compared to its average volume of 1,646,444. The firm has a market cap of $13.59 billion, a PE ratio of 503.89, a PEG ratio of 7.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte has a one year low of $50.35 and a one year high of $83.95. The firm has a 50-day moving average of $73.24 and a 200 day moving average of $67.50.

Incyte (NASDAQ:INCY - Get Free Report) last announced its 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). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The business's revenue for the quarter was up 23.8% on a year-over-year basis. On average, sell-side analysts expect that Incyte will post 0.4 earnings per share for the current year.

Insider Activity

In related news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares of the company's stock, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the transaction, the insider now directly owns 23,312 shares of the company's stock, valued at $1,615,754.72. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,023 shares of company stock valued at $839,711. Insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Incyte

A number of hedge funds have recently bought and sold shares of INCY. Pacer Advisors Inc. raised its stake 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 buying an additional 2,676,851 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Incyte in the third quarter worth $156,611,000. Mizuho Securities USA LLC grew its holdings in Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company's stock worth $132,207,000 after purchasing an additional 1,985,726 shares during the period. AQR Capital Management LLC grew its holdings in Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company's stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Incyte by 2,486.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company's stock worth $23,923,000 after purchasing an additional 379,390 shares during the period. 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.