Mn Services Vermogensbeheer B.V. Boosts Stake in Incyte Corporation (NASDAQ:INCY)

Mn Services Vermogensbeheer B.V. raised its holdings in Incyte Corporation (NASDAQ:INCYFree Report) by 14.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,500 shares of the biopharmaceutical company’s stock after purchasing an additional 4,500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Incyte were worth $2,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Incyte by 61.3% in the fourth quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company’s stock valued at $12,031,000 after purchasing an additional 66,220 shares during the period. JPMorgan Chase & Co. raised its position in Incyte by 13.5% in the fourth quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company’s stock valued at $22,354,000 after purchasing an additional 38,550 shares during the period. Pictet Asset Management Holding SA raised its position in Incyte by 73.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company’s stock valued at $90,749,000 after purchasing an additional 556,218 shares during the period. Commonwealth Equity Services LLC raised its position in Incyte by 2.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 30,527 shares of the biopharmaceutical company’s stock valued at $2,109,000 after purchasing an additional 782 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in Incyte by 131.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,624 shares of the biopharmaceutical company’s stock valued at $527,000 after purchasing an additional 4,329 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INCY. UBS Group reiterated a “neutral” rating and issued a $61.00 price objective on shares of Incyte in a report on Tuesday, June 3rd. JPMorgan Chase & Co. cut their price objective on Incyte from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. William Blair downgraded Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. Citigroup reiterated a “buy” rating on shares of Incyte in a report on Tuesday, June 3rd. Finally, Morgan Stanley cut their price objective on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $74.53.

Get Our Latest Report on INCY

Incyte Trading Down 3.4%

NASDAQ:INCY opened at $68.81 on Wednesday. The stock has a 50-day simple moving average of $62.79 and a 200-day simple moving average of $66.97. The stock has a market cap of $13.32 billion, a P/E ratio of 215.04, a P/E/G ratio of 0.60 and a beta of 0.67. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 2.04.

Incyte (NASDAQ:INCYGet Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $996.17 million. During the same period in the prior year, the firm posted $0.64 EPS. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

About Incyte

(Free Report)

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.

See Also

Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Corporation (NASDAQ:INCYFree Report).

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.