Cerity Partners LLC Purchases New Position in Incyte Co. (NASDAQ:INCY)

Cerity Partners LLC purchased a new stake in Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,039 shares of the biopharmaceutical company’s stock, valued at approximately $316,000.

A number of other large investors have also recently added to or reduced their stakes in INCY. CWM LLC boosted its position in Incyte by 85.2% during the third quarter. CWM LLC now owns 5,129 shares of the biopharmaceutical company’s stock worth $296,000 after purchasing an additional 2,360 shares during the period. Czech National Bank boosted its position in Incyte by 48.3% during the third quarter. Czech National Bank now owns 32,507 shares of the biopharmaceutical company’s stock worth $1,878,000 after purchasing an additional 10,588 shares during the period. Commonwealth Equity Services LLC boosted its position in Incyte by 12.3% during the third quarter. Commonwealth Equity Services LLC now owns 20,009 shares of the biopharmaceutical company’s stock worth $1,156,000 after purchasing an additional 2,197 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Incyte by 5.8% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 106,964 shares of the biopharmaceutical company’s stock worth $6,179,000 after purchasing an additional 5,900 shares during the period. Finally, Toews Corp ADV acquired a new position in shares of Incyte during the third quarter worth approximately $774,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $51.68 on Friday. The business’s fifty day moving average price is $56.78 and its two-hundred day moving average price is $57.70. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $75.74. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.18 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on INCY shares. Truist Financial cut their price target on Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Jefferies Financial Group started coverage on Incyte in a report on Friday, February 23rd. They set a “buy” rating and a $81.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $65.00 price target on shares of Incyte in a report on Monday, March 25th. Bank of America cut their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Finally, William Blair reiterated an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $75.50.

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.