Incyte Co. (NASDAQ:INCY) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Incyte Co. (NASDAQ:INCYGet Rating) by 22.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,997 shares of the biopharmaceutical company’s stock after acquiring an additional 2,419 shares during the period. Envestnet Asset Management Inc.’s holdings in Incyte were worth $987,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in Incyte by 3.7% during the 1st quarter. Wellington Management Group LLP now owns 9,338,192 shares of the biopharmaceutical company’s stock worth $741,639,000 after acquiring an additional 329,701 shares in the last quarter. Royal Bank of Canada grew its holdings in Incyte by 117.4% during the 1st quarter. Royal Bank of Canada now owns 7,682,752 shares of the biopharmaceutical company’s stock worth $610,164,000 after acquiring an additional 4,148,559 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Incyte by 2.3% during the 1st quarter. Renaissance Technologies LLC now owns 4,697,633 shares of the biopharmaceutical company’s stock worth $373,086,000 after acquiring an additional 106,900 shares in the last quarter. UBS Group AG grew its holdings in Incyte by 204.8% during the 1st quarter. UBS Group AG now owns 2,936,589 shares of the biopharmaceutical company’s stock worth $233,224,000 after acquiring an additional 1,973,236 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Incyte by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,364,251 shares of the biopharmaceutical company’s stock worth $108,348,000 after acquiring an additional 3,465 shares in the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INCY has been the subject of several research reports. TheStreet lowered shares of Incyte from a “b” rating to a “c+” rating in a report on Monday, August 22nd. Oppenheimer decreased their price target on shares of Incyte from $109.00 to $98.00 in a report on Wednesday, August 3rd. Evercore ISI lowered shares of Incyte to an “in-line” rating in a report on Thursday, September 22nd. Royal Bank of Canada lifted their price target on shares of Incyte from $77.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, November 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Incyte from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.20.

Incyte Trading Down 0.7 %

Shares of NASDAQ:INCY opened at $77.76 on Friday. The company has a market cap of $17.30 billion, a PE ratio of 19.79, a P/E/G ratio of 1.64 and a beta of 0.70. The company’s 50-day moving average price is $72.00 and its 200 day moving average price is $73.81. Incyte Co. has a fifty-two week low of $63.40 and a fifty-two week high of $84.86. The company has a quick ratio of 3.75, a current ratio of 3.80 and a debt-to-equity ratio of 0.01.

Incyte Company Profile

(Get Rating)

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading

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

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.