Entropy Technologies LP Grows Stock Holdings in Incyte Corporation $INCY

Entropy Technologies LP increased its position in Incyte Corporation (NASDAQ:INCY) by 29.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,077 shares of the biopharmaceutical company’s stock after buying an additional 5,961 shares during the period. Entropy Technologies LP’s holdings in Incyte were worth $2,454,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Elyxium Wealth LLC purchased a new position in shares of Incyte in the fourth quarter valued at about $28,000. Smithfield Trust Co boosted its stake in shares of Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 162 shares during the period. MUFG Securities EMEA plc purchased a new stake in shares of Incyte during the second quarter worth about $32,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Incyte during the second quarter worth about $33,000. Finally, Leonteq Securities AG bought a new stake in Incyte during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Stifel Nicolaus set a $123.00 price target on Incyte in a report on Tuesday, June 9th. JPMorgan Chase & Co. lifted their price objective on shares of Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $140.00 target price on shares of Incyte in a report on Tuesday, July 21st. UBS Group upped their target price on shares of Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Incyte in a research note on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $111.10.

Incyte Price Performance

Incyte stock opened at $117.67 on Monday. Incyte Corporation has a 52-week low of $69.69 and a 52-week high of $119.60. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $106.82 and its 200 day moving average is $101.63. The company has a market cap of $23.51 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.06 and a beta of 0.76.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted $1.16 EPS. The business’s revenue was up 20.9% on a year-over-year basis. Sell-side analysts forecast that Incyte Corporation will post 6.63 EPS for the current fiscal year.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.