CWA Asset Management Group LLC Grows Stock Holdings in Incyte Corporation (NASDAQ:INCY)

CWA Asset Management Group LLC boosted its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 105.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,381 shares of the biopharmaceutical company's stock after purchasing an additional 29,397 shares during the quarter. CWA Asset Management Group LLC's holdings in Incyte were worth $3,474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of INCY. Wells Fargo & Company MN increased its stake in shares of Incyte by 61.3% during the fourth quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company's stock valued at $12,031,000 after buying an additional 66,220 shares during the period. JPMorgan Chase & Co. grew its holdings in Incyte by 13.5% during the 4th quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock worth $22,354,000 after acquiring an additional 38,550 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Incyte by 73.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock valued at $90,749,000 after purchasing an additional 556,218 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Incyte by 2.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 30,527 shares of the biopharmaceutical company's stock valued at $2,109,000 after purchasing an additional 782 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Incyte by 131.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,624 shares of the biopharmaceutical company's stock worth $527,000 after purchasing an additional 4,329 shares during the period. 96.97% of the stock is owned by institutional investors.

Incyte Stock Performance

Incyte stock traded down $0.54 during mid-day trading on Thursday, reaching $68.27. 1,740,637 shares of the company traded hands, compared to its average volume of 2,049,015. The firm's fifty day moving average is $62.97 and its two-hundred day moving average is $66.97. The company has a market capitalization of $13.22 billion, a price-to-earnings ratio of 213.35, a price-to-earnings-growth ratio of 0.58 and a beta of 0.67. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week 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.

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 firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The business's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. On average, equities research analysts expect that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INCY has been the subject of a number of recent research reports. Citigroup reissued a "buy" rating on shares of Incyte in a research note on Tuesday, June 3rd. Morgan Stanley reduced their price target on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company raised their price objective on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, William Blair lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.