RFG Advisory LLC Makes New Investment in Incyte Co. (NASDAQ:INCY)

RFG Advisory LLC purchased a new position in shares of Incyte Co. (NASDAQ:INCY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,285 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Several other institutional investors have also modified their holdings of INCY. Cetera Advisor Networks LLC raised its holdings in shares of Incyte by 7.4% during the 1st quarter. Cetera Advisor Networks LLC now owns 5,265 shares of the biopharmaceutical company’s stock worth $418,000 after acquiring an additional 362 shares during the period. Private Advisor Group LLC purchased a new stake in Incyte in the 1st quarter valued at about $323,000. D.A. Davidson & CO. raised its holdings in Incyte by 4.8% in the 1st quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 150 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Incyte by 6.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,172 shares of the biopharmaceutical company’s stock valued at $1,999,000 after buying an additional 1,605 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Incyte by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 596,022 shares of the biopharmaceutical company’s stock valued at $47,338,000 after buying an additional 43,168 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of Incyte stock opened at $53.85 on Friday. Incyte Co. has a one year low of $50.27 and a one year high of $75.74. The company has a market cap of $12.09 billion, a PE ratio of 20.32, a P/E/G ratio of 1.18 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55. The business has a 50-day simple moving average of $57.97 and a 200-day simple moving average of $58.11.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, equities research analysts forecast that Incyte Co. will post 3.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INCY. Bank of America reduced their price objective on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Jefferies Financial Group started coverage on shares of Incyte in a research note on Friday, February 23rd. They set a “buy” rating and a $81.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research note on Monday, March 25th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.07.

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 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.