Cantor Fitzgerald began coverage on shares of Incyte (NASDAQ:INCY – Free Report) in a report issued on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating on the biopharmaceutical company’s stock.
INCY has been the topic of a number of other research reports. Truist Financial dropped their price objective on Incyte from $91.00 to $84.00 and set a buy rating on the stock in a report on Wednesday, February 14th. Royal Bank of Canada restated a sector perform rating and issued a $65.00 price objective on shares of Incyte in a research report on Monday, March 25th. Stifel Nicolaus upped their price target on shares of Incyte from $67.00 to $68.00 and gave the stock a hold rating in a report on Wednesday, February 14th. Jefferies Financial Group began coverage on Incyte in a research note on Friday, February 23rd. They set a buy rating and a $81.00 price objective for the company. Finally, BMO Capital Markets upped their target price on Incyte from $58.00 to $64.00 and gave the stock a market perform rating in a research note on Wednesday, February 14th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $76.07.
View Our Latest Report on INCY
Incyte Trading Down 0.5 %
Incyte (NASDAQ:INCY – Get Free Report) last posted its 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 analysts’ expectations of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. Incyte’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, research analysts forecast that Incyte will post 3.85 EPS for the current year.
Hedge Funds Weigh In On Incyte
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Cape Investment Advisory Inc. purchased a new position in shares of Incyte in the fourth quarter valued at $25,000. Larson Financial Group LLC grew its stake in shares of Incyte by 4,220.0% in the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Incyte in the 4th quarter worth about $31,000. Redmont Wealth Advisors LLC bought a new position in shares of Incyte in the 1st quarter valued at about $28,000. Finally, Riverview Trust Co purchased a new position in Incyte in the first quarter worth about $29,000. 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.
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