Incyte Co. (NASDAQ:INCY) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC boosted its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 305.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,611 shares of the biopharmaceutical company's stock after acquiring an additional 27,581 shares during the period. Merit Financial Group LLC's holdings in Incyte were worth $2,217,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. acquired a new stake in Incyte in the fourth quarter valued at $26,000. Global X Japan Co. Ltd. raised its holdings in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Incyte in the fourth quarter valued at $34,000. Blue Trust Inc. raised its holdings in Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 329 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Incyte during the fourth quarter worth $42,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INCY. Truist Financial increased their target price on shares of Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a report on Tuesday, May 27th. Stifel Nicolaus increased their target price on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, February 10th. JMP Securities reissued a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. UBS Group reissued a "neutral" rating and set a $61.00 target price on shares of Incyte in a report on Tuesday. Finally, Morgan Stanley dropped their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $72.53.

Incyte Stock Down 0.3%

INCY stock opened at $67.24 on Friday. The stock has a market cap of $13.02 billion, a PE ratio of 249.05, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm's 50-day simple moving average is $61.28 and its 200 day simple moving average is $67.21. Incyte Co. has a fifty-two week low of $53.56 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, beating the consensus estimate 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 0.77% and a return on equity of 0.05%. Incyte's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. As a group, sell-side analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. This trade represents a 37.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.80% of the stock is owned by corporate insiders.

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.

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