Incyte (NASDAQ:INCY) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Incyte (NASDAQ:INCY) in a report released on Tuesday, Briefing.com reports. The firm set a “neutral” rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on INCY. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Stifel Nicolaus lifted their price objective on shares of Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Truist Financial dropped their target price on shares of Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. BMO Capital Markets raised their price target on shares of Incyte from $58.00 to $64.00 and gave the stock a “market perform” rating in a report on Wednesday, February 14th. Finally, JMP Securities downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $76.07.

Incyte Stock Performance

NASDAQ:INCY opened at $51.92 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55. Incyte has a fifty-two week low of $50.27 and a fifty-two week high of $75.74. The company has a 50 day simple moving average of $57.34 and a two-hundred day simple moving average of $57.86. The company has a market capitalization of $11.66 billion, a PE ratio of 19.59, a P/E/G ratio of 1.21 and a beta of 0.65.

Incyte (NASDAQ:INCY) last released its 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). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. Incyte’s quarterly revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Incyte will post 3.85 earnings per share for the current year.

Institutional Trading of Incyte

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. bought a new stake in Incyte during the fourth quarter worth $25,000. Larson Financial Group LLC boosted its holdings in Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 422 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Incyte in the 1st quarter worth $28,000. Riverview Trust Co purchased a new stake in shares of Incyte in the first quarter valued at about $29,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Incyte during the fourth quarter valued at about $31,000. 96.97% of the stock is owned by 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.