Incyte (NASDAQ:INCY) Receives New Coverage from Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Incyte (NASDAQ:INCY) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm issued a neutral rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Incyte in a research note on Friday, February 23rd. They issued a buy rating and a $81.00 price target for the company. William Blair reiterated an outperform rating on shares of Incyte in a report on Tuesday, February 6th. JMP Securities cut shares of Incyte from an outperform rating to a market perform rating in a report on Wednesday, February 14th. Bank of America cut their price target on shares of Incyte from $69.00 to $67.00 and set a neutral rating on the stock in a report on Wednesday, March 13th. Finally, BMO Capital Markets increased their price target on shares of Incyte from $58.00 to $64.00 and gave the company a market perform rating in a report on Wednesday, February 14th. Nine equities research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $75.50.

Incyte Stock Up 1.0 %

Shares of NASDAQ:INCY opened at $51.68 on Tuesday. Incyte has a 52-week low of $50.27 and a 52-week high of $75.74. The firm has a fifty day moving average of $56.78 and a 200 day moving average of $57.70. The firm has a market capitalization of $11.60 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.20 and a beta of 0.65. 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 (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. As a group, research analysts anticipate that Incyte will post 3.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Incyte

A number of large investors have recently made changes to their positions in the company. Fisher Asset Management LLC lifted its holdings in Incyte by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock valued at $2,773,000 after buying an additional 187 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Incyte by 1.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company’s stock valued at $964,000 after buying an additional 195 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in Incyte by 4.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock valued at $271,000 after buying an additional 204 shares in the last quarter. Berger Financial Group Inc raised its holdings in shares of Incyte by 0.4% in the 4th quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock valued at $3,797,000 after purchasing an additional 212 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Incyte by 40.0% in the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 229 shares in the last quarter. 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.