Incyte (NASDAQ:INCY) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Incyte (NASDAQ:INCY - Free Report) in a report released on Tuesday morning, Marketbeat reports. The brokerage issued a neutral rating on the biopharmaceutical company's stock.

Other equities research analysts also recently issued reports about the stock. JMP Securities downgraded shares of Incyte from an outperform rating to a market perform rating in a report on Wednesday, February 14th. Bank of America lowered 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. Jefferies Financial Group started coverage on shares of Incyte in a report on Friday, February 23rd. They issued a buy rating and a $81.00 price target on the stock. William Blair reissued an outperform rating on shares of Incyte in a report on Tuesday, February 6th. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $65.00 price target on shares of Incyte in a report on Monday, March 25th. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $76.07.

Incyte Stock Performance

NASDAQ INCY traded down $0.27 during trading on Tuesday, hitting $51.65. 2,493,623 shares of the company's stock traded hands, compared to its average volume of 1,726,973. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.21 and a beta of 0.65. 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 quick ratio of 3.36 and a current ratio of 3.55. The business has a 50 day moving average of $57.18 and a 200-day moving average of $57.82.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 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 analysts' expectations of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. Incyte's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. As a group, equities research analysts anticipate that Incyte will post 3.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC grew its position in Incyte by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company's stock valued at $2,773,000 after acquiring an additional 187 shares during the last quarter. Vontobel Holding Ltd. grew its position in Incyte by 1.2% during the third quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company's stock valued at $964,000 after acquiring an additional 195 shares during the last quarter. 180 Wealth Advisors LLC grew its position in Incyte by 4.5% during the first quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company's stock valued at $271,000 after acquiring an additional 204 shares during the last quarter. Berger Financial Group Inc grew its position in Incyte by 0.4% during the fourth quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company's stock valued at $3,797,000 after acquiring an additional 212 shares during the last quarter. Finally, Allworth Financial LP grew its position in Incyte by 40.0% during the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company's stock valued at $50,000 after acquiring an additional 229 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

About Incyte

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.