ProShare Advisors LLC Buys 283 Shares of Incyte Co. (NASDAQ:INCY)

ProShare Advisors LLC grew its stake in shares of Incyte Co. (NASDAQ:INCY) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,566 shares of the biopharmaceutical company’s stock after purchasing an additional 283 shares during the period. ProShare Advisors LLC’s holdings in Incyte were worth $4,377,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INCY. Janiczek Wealth Management LLC lifted its position in Incyte by 1,120.7% during the 1st quarter. Janiczek Wealth Management LLC now owns 354 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 325 shares during the period. Clear Street Markets LLC lifted its position in Incyte by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 175 shares during the period. Parkside Financial Bank & Trust lifted its position in Incyte by 91.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 213 shares during the period. Ellevest Inc. lifted its position in Incyte by 52.6% during the 1st quarter. Ellevest Inc. now owns 548 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 189 shares during the period. Finally, Salem Investment Counselors Inc. lifted its position in Incyte by 1,458.0% during the 2nd quarter. Salem Investment Counselors Inc. now owns 779 shares of the biopharmaceutical company’s stock valued at $59,000 after acquiring an additional 729 shares during the period. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on INCY. JMP Securities reaffirmed a “market outperform” rating and issued a $93.00 target price on shares of Incyte in a report on Wednesday, August 2nd. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Monday, August 28th. Stifel Nicolaus lifted their target price on shares of Incyte from $73.00 to $76.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. BMO Capital Markets decreased their target price on shares of Incyte from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Wednesday, August 2nd. Finally, Truist Financial reduced their price target on shares of Incyte from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $82.00.

Incyte Stock Performance

INCY opened at $59.51 on Tuesday. The firm has a market cap of $13.34 billion, a P/E ratio of 36.51, a PEG ratio of 3.04 and a beta of 0.69. Incyte Co. has a 1-year low of $58.54 and a 1-year high of $86.29. The company has a 50 day simple moving average of $63.90 and a two-hundred day simple moving average of $66.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.81 and a quick ratio of 3.78.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.08. The business had revenue of $954.61 million during the quarter, compared to analyst estimates of $920.18 million. Incyte had a net margin of 10.43% and a return on equity of 9.25%. Equities analysts forecast that Incyte Co. will post 2.98 earnings per share for the current fiscal year.

Incyte 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, Europe, Japan, and internationally. The company offers JAKAFI (ruxolitinib), for the treatment of adults with intermediate or high-risk myelofibrosis; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), 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.