First Trust Advisors LP Buys 109,069 Shares of Incyte Co. (NASDAQ:INCY)

First Trust Advisors LP increased its stake in Incyte Co. (NASDAQ:INCYFree Report) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 918,358 shares of the biopharmaceutical company’s stock after acquiring an additional 109,069 shares during the period. First Trust Advisors LP owned about 0.41% of Incyte worth $57,664,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cape Investment Advisory Inc. bought a new position in Incyte during the 4th quarter valued at approximately $25,000. Larson Financial Group LLC raised its position in shares of Incyte by 4,220.0% in the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Incyte in the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC raised its position in shares of Incyte by 597.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 635 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 544 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Incyte by 85.2% in the 4th quarter. Quadrant Capital Group LLC now owns 711 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 327 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

INCY has been the subject of several research reports. Truist Financial reissued a “buy” rating and issued a $83.00 target price (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Cantor Fitzgerald initiated coverage on Incyte in a research report on Tuesday, April 23rd. They issued a “neutral” rating for the company. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Citigroup cut their price target on Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Finally, TD Cowen cut their price target on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Incyte has an average rating of “Hold” and an average target price of $73.69.

Check Out Our Latest Research Report on INCY

Incyte Price Performance

NASDAQ INCY opened at $59.16 on Friday. The business’s fifty day moving average price is $55.23 and its 200-day moving average price is $57.99. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.26 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.

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

Incyte Company 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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