Allworth Financial LP Acquires 229 Shares of Incyte Co. (NASDAQ:INCY)

Allworth Financial LP increased its holdings in Incyte Co. (NASDAQ:INCY) by 40.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 802 shares of the biopharmaceutical company’s stock after purchasing an additional 229 shares during the quarter. Allworth Financial LP’s holdings in Incyte were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of INCY. International Assets Investment Management LLC bought a new stake in Incyte during the 4th quarter valued at approximately $264,000. Asset Management One Co. Ltd. boosted its position in Incyte by 8.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 109,571 shares of the biopharmaceutical company’s stock valued at $6,873,000 after acquiring an additional 8,851 shares in the last quarter. Arizona State Retirement System boosted its position in Incyte by 1.2% during the 4th quarter. Arizona State Retirement System now owns 52,350 shares of the biopharmaceutical company’s stock valued at $3,287,000 after acquiring an additional 617 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Incyte by 351.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 25,918 shares of the biopharmaceutical company’s stock valued at $1,627,000 after acquiring an additional 20,174 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in Incyte during the 4th quarter valued at approximately $280,000. 96.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on INCY shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $65.00 target price on shares of Incyte in a report on Monday, March 25th. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Bank of America lowered their target price on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. William Blair restated an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Finally, BMO Capital Markets boosted their target price on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Incyte currently has a consensus rating of “Moderate Buy” and an average price target of $76.07.

Incyte Trading Down 1.9 %

Shares of INCY stock opened at $53.85 on Friday. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $75.74. The firm has a fifty day moving average price of $57.97 and a 200-day moving average price of $58.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.18 and a beta of 0.65.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. As a group, equities analysts predict that Incyte Co. will post 3.84 earnings per share for the current 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 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.