Mn Services Vermogensbeheer B.V. raised its holdings in Incyte Corporation (NASDAQ:INCY – Free 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.
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:INCY – Get 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
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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