Raymond James & Associates Takes Position in Incyte Co. (NASDAQ:INCY)

Raymond James & Associates purchased a new stake in shares of Incyte Co. (NASDAQ:INCY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 36,484 shares of the biopharmaceutical company’s stock, valued at approximately $2,291,000.

A number of other hedge funds also recently made changes to their positions in the business. D.A. Davidson & CO. raised its holdings in shares of Incyte by 4.8% during the first 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 last quarter. Clear Street Markets LLC increased its stake in shares of Incyte by 93.6% during the first 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. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Incyte by 2.8% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,616 shares of the biopharmaceutical company’s stock valued at $441,000 after acquiring an additional 183 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Incyte by 1.2% during the third quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company’s stock valued at $964,000 after acquiring an additional 195 shares during the period. Finally, Gabelli Funds LLC increased its stake in shares of Incyte by 1.2% during the first quarter. Gabelli Funds LLC now owns 16,500 shares of the biopharmaceutical company’s stock valued at $1,310,000 after acquiring an additional 200 shares during the period. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Down 0.8 %

NASDAQ INCY opened at $53.43 on Tuesday. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $75.74. 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 stock has a market cap of $12.00 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.16 and a beta of 0.65. The firm’s 50 day moving average price is $57.87 and its two-hundred day moving average price is $58.06.

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

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Citigroup lowered their price objective on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Truist Financial lowered their price objective on shares of Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.