CHURCHILL MANAGEMENT Corp Raises Stock Position in Incyte Corporation (NASDAQ:INCY)

CHURCHILL MANAGEMENT Corp raised its stake in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 3.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,009 shares of the biopharmaceutical company's stock after buying an additional 6,087 shares during the quarter. CHURCHILL MANAGEMENT Corp owned about 0.10% of Incyte worth $11,202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV boosted its stake in Incyte by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company's stock valued at $1,410,000 after buying an additional 150 shares during the period. Bank of Nova Scotia raised its holdings in shares of Incyte by 0.8% in the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company's stock valued at $1,498,000 after acquiring an additional 171 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Incyte by 2.0% during the 1st quarter. Fifth Third Bancorp now owns 9,103 shares of the biopharmaceutical company's stock valued at $551,000 after acquiring an additional 179 shares during the last quarter. Horizon Investments LLC grew its holdings in shares of Incyte by 9.5% during the fourth quarter. Horizon Investments LLC now owns 2,376 shares of the biopharmaceutical company's stock worth $164,000 after purchasing an additional 206 shares in the last quarter. Finally, DCF Advisers LLC increased its position in shares of Incyte by 0.5% in the fourth quarter. DCF Advisers LLC now owns 48,500 shares of the biopharmaceutical company's stock worth $3,350,000 after purchasing an additional 250 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Incyte Trading Up 0.4%

Shares of NASDAQ INCY traded up $0.29 during mid-day trading on Friday, hitting $68.46. The stock had a trading volume of 1,272,600 shares, compared to its average volume of 1,969,917. The business has a 50 day moving average price of $65.34 and a two-hundred day moving average price of $66.67. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 2.04. The firm has a market cap of $13.25 billion, a P/E ratio of 213.94, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $996.17 million. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 earnings per share. On average, equities analysts anticipate that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INCY has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Morgan Stanley dropped their price objective on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, March 24th. Truist Financial upped their target price on shares of Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, UBS Group reaffirmed a "neutral" rating and set a $61.00 price target on shares of Incyte in a research note on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $74.53.

Incyte Company 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.