Fifth Third Bancorp Has $551,000 Holdings in Incyte Corporation (NASDAQ:INCY)

Fifth Third Bancorp boosted its stake in Incyte Corporation (NASDAQ:INCY) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,103 shares of the biopharmaceutical company’s stock after purchasing an additional 179 shares during the quarter. Fifth Third Bancorp’s holdings in Incyte were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of INCY. Quintet Private Bank Europe S.A. bought a new position in Incyte in the fourth quarter valued at about $26,000. Raiffeisen Bank International AG bought a new position in Incyte in the fourth quarter valued at about $34,000. Bradley & Co. Private Wealth Management LLC bought a new position in Incyte in the fourth quarter valued at about $42,000. NBC Securities Inc. grew its position in Incyte by 88,200.0% in the first quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 882 shares during the last quarter. Finally, Huntington National Bank grew its position in Incyte by 40.7% in the fourth quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 270 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Incyte stock opened at $68.81 on Wednesday. Incyte Corporation has a one year low of $53.56 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00. The stock’s 50 day moving average is $62.79 and its 200 day moving average is $66.97. The firm has a market cap of $13.32 billion, a P/E ratio of 215.04, a P/E/G ratio of 0.60 and a beta of 0.67.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same period in the previous year, the firm earned $0.64 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. As a group, research analysts expect that Incyte Corporation will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stifel Nicolaus upgraded Incyte from a “hold” rating to a “buy” rating and lifted their target price for the company from $75.00 to $107.00 in a research report on Monday. Morgan Stanley reduced their price target on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. Wall Street Zen upgraded Incyte from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 30th. William Blair cut Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. Finally, Royal Bank Of Canada boosted their price target on Incyte from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus price target of $74.53.

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.