Incyte Corporation (NASDAQ:INCY) Shares Acquired by Continuum Advisory LLC

Continuum Advisory LLC raised its holdings in Incyte Corporation (NASDAQ:INCY - Free Report) by 11,127.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,088 shares of the biopharmaceutical company's stock after acquiring an additional 61,535 shares during the quarter. Continuum Advisory LLC's holdings in Incyte were worth $3,759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Sanctuary Advisors LLC lifted its holdings in shares of Incyte by 29.8% in the 4th quarter. Sanctuary Advisors LLC now owns 27,330 shares of the biopharmaceutical company's stock worth $2,016,000 after buying an additional 6,274 shares during the period. ING Groep NV purchased a new stake in shares of Incyte in the 4th quarter worth $1,411,000. Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Incyte by 8.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 46,003 shares of the biopharmaceutical company's stock worth $3,177,000 after buying an additional 3,453 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Incyte during the 4th quarter worth $311,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Incyte during the 4th quarter worth $2,422,000. Institutional investors own 96.97% of the company's stock.

Incyte Stock Performance

Shares of INCY stock traded up $1.75 during mid-day trading on Tuesday, reaching $69.01. The stock had a trading volume of 1,700,514 shares, compared to its average volume of 2,007,815. The business's fifty day moving average is $63.84 and its 200-day moving average is $66.76. The company has a current ratio of 2.04, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01. The firm has a market cap of $13.36 billion, a price-to-earnings ratio of 215.66, a PEG ratio of 0.57 and a beta of 0.67. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $83.95.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INCY. Wells Fargo & Company upped their price objective on Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. UBS Group restated a "neutral" rating and set a $61.00 price objective on shares of Incyte in a research note on Tuesday, June 3rd. Truist Financial upped their price objective on Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research note on Tuesday, May 27th. Royal Bank Of Canada upped their price objective on Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. decreased their price objective on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $74.53.

About Incyte

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.