Incyte (NASDAQ:INCY) Coverage Initiated at Cantor Fitzgerald

Equities research analysts at Cantor Fitzgerald started coverage on shares of Incyte (NASDAQ:INCY) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “neutral” rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the stock. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Bank of America lowered their target price on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Citigroup lowered their target price on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. William Blair restated an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus raised their price objective on shares of Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

Incyte Trading Up 0.2 %

NASDAQ INCY opened at $51.74 on Tuesday. The firm’s 50-day moving average is $57.06 and its two-hundred day moving average is $57.78. Incyte has a 12 month low of $50.27 and a 12 month high of $75.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36. The stock has a market capitalization of $11.62 billion, a P/E ratio of 19.52, a PEG ratio of 1.20 and a beta of 0.65.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.09). The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. On average, sell-side analysts anticipate that Incyte will post 3.85 earnings per share for the current year.

Hedge Funds Weigh In On Incyte

Several large investors have recently added to or reduced their stakes in INCY. Vontobel Holding Ltd. increased its stake in Incyte by 1.2% during the third quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company’s stock worth $964,000 after acquiring an additional 195 shares during the last quarter. CWM LLC lifted its holdings in Incyte by 85.2% during the 3rd quarter. CWM LLC now owns 5,129 shares of the biopharmaceutical company’s stock worth $296,000 after buying an additional 2,360 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Incyte by 13.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,309 shares of the biopharmaceutical company’s stock worth $3,714,000 after buying an additional 7,695 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Incyte by 5.6% in the 3rd quarter. ARK Investment Management LLC now owns 493,693 shares of the biopharmaceutical company’s stock worth $28,521,000 after purchasing an additional 26,127 shares during the last quarter. Finally, Czech National Bank lifted its holdings in shares of Incyte by 48.3% in the 3rd quarter. Czech National Bank now owns 32,507 shares of the biopharmaceutical company’s stock worth $1,878,000 after purchasing an additional 10,588 shares during the last quarter. 96.97% of the stock is currently 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.