Incyte Corporation $INCY Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its holdings in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 121.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,597 shares of the biopharmaceutical company's stock after purchasing an additional 23,395 shares during the period. Assetmark Inc.'s holdings in Incyte were worth $4,009,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new position in Incyte in the 4th quarter worth about $28,000. Smithfield Trust Co raised its stake in Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 162 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Incyte during the 2nd quarter valued at $32,000. CYBER HORNET ETFs LLC bought a new position in shares of Incyte in the second quarter worth $33,000. Finally, Leonteq Securities AG acquired a new position in shares of Incyte during the fourth quarter valued at $35,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Trading Down 1.4%

Shares of NASDAQ INCY opened at $115.79 on Thursday. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $69.24 and a 12 month high of $119.60. The company has a market cap of $23.13 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.06 and a beta of 0.76. The business has a fifty day simple moving average of $106.00 and a 200-day simple moving average of $101.41.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business posted $1.16 EPS. The company's revenue was up 20.9% on a year-over-year basis. Sell-side analysts predict that Incyte Corporation will post 6.61 EPS for the current year.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of recent analyst reports. HC Wainwright restated a "buy" rating and set a $140.00 price target on shares of Incyte in a research report on Tuesday. Sanford C. Bernstein started coverage on Incyte in a report on Thursday, May 21st. They set a "market perform" rating and a $99.00 target price on the stock. UBS Group boosted their price objective on Incyte from $103.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Royal Bank Of Canada raised their target price on Incyte from $95.00 to $99.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Incyte in a report on Monday, June 29th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $109.95.

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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