Chevy Chase Trust Holdings LLC Grows Holdings in Incyte Corporation (NASDAQ:INCY)

Chevy Chase Trust Holdings LLC lifted its holdings in Incyte Corporation (NASDAQ:INCYFree Report) by 0.4% during the first quarter, Holdings Channel reports. The institutional investor owned 84,241 shares of the biopharmaceutical company’s stock after acquiring an additional 334 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Incyte were worth $5,101,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. grew its position in Incyte by 0.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 90,031 shares of the biopharmaceutical company’s stock valued at $5,451,000 after purchasing an additional 747 shares during the last quarter. Continuum Advisory LLC grew its position in Incyte by 11,127.5% during the 1st quarter. Continuum Advisory LLC now owns 62,088 shares of the biopharmaceutical company’s stock valued at $3,759,000 after purchasing an additional 61,535 shares during the last quarter. Whalen Wealth Management Inc. grew its position in Incyte by 61.6% during the 1st quarter. Whalen Wealth Management Inc. now owns 5,740 shares of the biopharmaceutical company’s stock valued at $348,000 after purchasing an additional 2,189 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Incyte during the 1st quarter valued at about $280,000. Finally, Intact Investment Management Inc. purchased a new stake in Incyte during the 1st quarter valued at about $73,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on INCY shares. Morgan Stanley lowered their target price on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, March 24th. Truist Financial upped their target price on shares of Incyte from $72.00 to $73.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th. William Blair cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. Citigroup restated a “buy” rating on shares of Incyte in a research note on Tuesday, June 3rd. Finally, UBS Group restated a “neutral” rating and set a $61.00 target price on shares of Incyte in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average price target of $74.53.

Read Our Latest Research Report on INCY

Incyte Stock Up 4.8%

Shares of INCY opened at $70.81 on Friday. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $83.95. The company has a market capitalization of $13.71 billion, a PE ratio of 221.29, a price-to-earnings-growth ratio of 0.57 and a beta of 0.67. The stock has a fifty day simple moving average of $64.29 and a two-hundred day simple moving average of $66.76. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.01.

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

Incyte Company Profile

(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.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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