Incyte Co. (NASDAQ:INCY) Stock Holdings Increased by Bank of Nova Scotia

Bank of Nova Scotia boosted its position in Incyte Co. (NASDAQ:INCYFree Report) by 172.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,956 shares of the biopharmaceutical company’s stock after buying an additional 42,415 shares during the quarter. Bank of Nova Scotia’s holdings in Incyte were worth $4,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Cape Investment Advisory Inc. bought a new stake in Incyte in the fourth quarter valued at about $25,000. Larson Financial Group LLC increased its holdings in Incyte by 4,220.0% in the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 422 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Incyte in the fourth quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its stake in Incyte by 597.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 635 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 544 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Incyte by 85.2% in the fourth quarter. Quadrant Capital Group LLC now owns 711 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 327 shares during the period. 96.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on INCY shares. Jefferies Financial Group started coverage on Incyte in a research note on Friday, February 23rd. They issued a “buy” rating and a $81.00 target price for the company. William Blair restated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. BMO Capital Markets decreased their target price on Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Finally, Bank of America decreased their target price on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Incyte has an average rating of “Hold” and a consensus price target of $73.69.

View Our Latest Stock Report on Incyte

Incyte Stock Performance

INCY opened at $58.57 on Wednesday. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $67.36. The business has a 50 day moving average price of $55.12 and a two-hundred day moving average price of $57.95.

Incyte (NASDAQ:INCYGet Free Report) last released its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The firm had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. Research analysts predict that Incyte Co. will post 3.57 EPS for the current fiscal year.

Incyte Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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