LPL Financial LLC lessened its position in Incyte Co. (NASDAQ:INCY – Free Report) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,676 shares of the biopharmaceutical company’s stock after selling 199 shares during the period. LPL Financial LLC’s holdings in Incyte were worth $2,408,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cambiar Investors LLC boosted its holdings in shares of Incyte by 5.8% during the 2nd quarter. Cambiar Investors LLC now owns 131,111 shares of the biopharmaceutical company’s stock worth $8,162,000 after buying an additional 7,156 shares during the period. Credit Agricole S A bought a new stake in shares of Incyte during the 2nd quarter worth about $594,000. KBC Group NV boosted its holdings in shares of Incyte by 248.0% during the 2nd quarter. KBC Group NV now owns 101,438 shares of the biopharmaceutical company’s stock worth $6,315,000 after buying an additional 72,289 shares during the period. Shell Asset Management Co. boosted its holdings in shares of Incyte by 67.8% during the 2nd quarter. Shell Asset Management Co. now owns 22,784 shares of the biopharmaceutical company’s stock worth $1,418,000 after buying an additional 9,208 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of Incyte by 10.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 12,081 shares of the biopharmaceutical company’s stock worth $752,000 after buying an additional 1,123 shares during the period. Institutional investors own 92.61% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the stock. Citigroup assumed coverage on shares of Incyte in a report on Tuesday, July 25th. They issued a “buy” rating and a $82.00 price objective for the company. BMO Capital Markets cut their price objective 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. Royal Bank of Canada cut their price objective on shares of Incyte from $74.00 to $63.00 and set a “sector perform” rating for the company in a report on Wednesday, November 1st. Oppenheimer reissued an “outperform” rating and issued a $92.00 price objective on shares of Incyte in a report on Wednesday, August 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $93.00 price objective on shares of Incyte in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Incyte has a consensus rating of “Moderate Buy” and a consensus target price of $81.78.
Incyte Price Performance
INCY stock opened at $52.52 on Friday. The company has a 50 day simple moving average of $58.13 and a 200 day simple moving average of $62.12. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 0.97 and a beta of 0.72. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $86.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.91 and a quick ratio of 3.86.
Incyte Company 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.
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