Inceptionr LLC Takes $1.29 Million Position in Incyte Corporation $INCY

Key Points

• Inceptionr LLC opened a new stake in Incyte Corp., buying 13,713 shares worth about $1.29 million in the first quarter.
• Institutional ownership in Incyte remains very high, with 96.97% of shares held by institutional investors, and several other funds also increased or initiated positions.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $111.10, while Incyte recently reported quarterly earnings that beat estimates and revenue grew 20.9% year over year.

Inceptionr LLC purchased a new position in Incyte Corporation (NASDAQ:INCY - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,713 shares of the biopharmaceutical company's stock, valued at approximately $1,291,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Sei Investments Co. lifted its holdings in Incyte by 7.7% during the 1st quarter. Sei Investments Co. now owns 714,558 shares of the biopharmaceutical company's stock worth $67,254,000 after buying an additional 51,112 shares during the last quarter. Militia Capital Management LLC acquired a new stake in shares of Incyte during the 1st quarter valued at approximately $339,000. Measured Wealth Private Client Group LLC raised its position in shares of Incyte by 43.6% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,454 shares of the biopharmaceutical company's stock valued at $513,000 after acquiring an additional 1,657 shares in the last quarter. First Trust Advisors LP lifted its stake in Incyte by 17.6% during the first quarter. First Trust Advisors LP now owns 1,500,792 shares of the biopharmaceutical company's stock worth $141,255,000 after purchasing an additional 224,206 shares during the last quarter. Finally, ABN Amro Investment Solutions lifted its stake in Incyte by 17.7% during the first quarter. ABN Amro Investment Solutions now owns 6,627 shares of the biopharmaceutical company's stock worth $624,000 after purchasing an additional 996 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on INCY. BMO Capital Markets boosted their target price on shares of Incyte from $94.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, July 13th. Royal Bank Of Canada raised their price target on shares of Incyte from $95.00 to $99.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 7th. Barclays lifted their price target on shares of Incyte from $117.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. TD Cowen reaffirmed a "hold" rating on shares of Incyte in a research report on Tuesday, June 9th. Finally, Citigroup reissued a "market perform" rating on shares of Incyte in a report on Wednesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Incyte presently has an average rating of "Hold" and a consensus price target of $111.10.

Incyte Stock Performance

INCY stock opened at $116.69 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The stock has a market capitalization of $23.31 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.05 and a beta of 0.76. Incyte Corporation has a 1 year low of $69.69 and a 1 year high of $119.60. The stock's fifty day moving average is $106.38 and its two-hundred day moving average is $101.52.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The company's quarterly revenue was up 20.9% on a year-over-year basis. On average, research analysts predict that Incyte Corporation will post 6.61 EPS for the current year.

About Incyte

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.

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