Incyte Co. (NASDAQ:INCY) Shares Purchased by Signaturefd LLC

Signaturefd LLC boosted its holdings in Incyte Co. (NASDAQ:INCY) by 17.2% during the fourth quarter, HoldingsChannel reports. The fund owned 2,880 shares of the biopharmaceutical company’s stock after buying an additional 423 shares during the period. Signaturefd LLC’s holdings in Incyte were worth $181,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Incyte by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,159,419 shares of the biopharmaceutical company’s stock valued at $1,280,150,000 after acquiring an additional 289,882 shares during the last quarter. Invesco Ltd. lifted its holdings in Incyte by 3.2% in the third quarter. Invesco Ltd. now owns 3,922,045 shares of the biopharmaceutical company’s stock valued at $226,577,000 after acquiring an additional 120,838 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Incyte by 56.6% in the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock valued at $155,053,000 after acquiring an additional 970,668 shares during the last quarter. Northern Trust Corp lifted its holdings in Incyte by 5.9% in the third quarter. Northern Trust Corp now owns 2,127,688 shares of the biopharmaceutical company’s stock valued at $122,917,000 after acquiring an additional 119,389 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Incyte by 17.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,085,465 shares of the biopharmaceutical company’s stock worth $120,477,000 after buying an additional 313,731 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Trading Up 1.0 %

NASDAQ:INCY opened at $51.68 on Friday. The firm has a market cap of $11.60 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.18 and a beta of 0.65. The stock has a fifty day moving average price of $56.78 and a 200 day moving average price of $57.70. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $75.74. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted 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 business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts anticipate that Incyte Co. will post 3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. BMO Capital Markets raised their price target on Incyte from $58.00 to $64.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 14th. Citigroup lowered their price target on Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Jefferies Financial Group assumed coverage on Incyte in a research report on Friday, February 23rd. They set a “buy” rating and a $81.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. Finally, Bank of America lowered their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.50.

About Incyte

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.