Glenmede Trust Co. NA lowered its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 523,291 shares of the biopharmaceutical company's stock after selling 25,715 shares during the quarter. Glenmede Trust Co. NA owned about 0.26% of Incyte worth $49,252,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of INCY. NewEdge Advisors LLC raised its position in shares of Incyte by 369.3% during the 1st quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company's stock valued at $763,000 after acquiring an additional 9,913 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Incyte by 15.1% in the first quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company's stock worth $299,000 after purchasing an additional 648 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Incyte by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company's stock worth $49,322,000 after purchasing an additional 48,751 shares during the period. United Services Automobile Association bought a new stake in Incyte during the first quarter valued at $219,000. Finally, Focus Partners Wealth increased its stake in Incyte by 74.1% during the first quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company's stock valued at $1,273,000 after purchasing an additional 8,951 shares during the last quarter. Institutional investors own 96.97% of the company's stock.
Incyte Price Performance
Shares of INCY stock opened at $119.52 on Friday. Incyte Corporation has a 12-month low of $73.81 and a 12-month high of $132.60. The firm has a market capitalization of $24.23 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76. The business has a 50 day simple moving average of $109.54 and a 200 day simple moving average of $102.24.
Incyte (NASDAQ:INCY - Get Free Report) last posted its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.15 by $0.94. The firm had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The firm's revenue was up 37.7% compared to the same quarter last year. During the same period last year, the firm earned $1.57 EPS. On average, equities analysts anticipate that Incyte Corporation will post 6.38 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms have recently issued reports on INCY. Oppenheimer restated a "market perform" rating and issued a $120.00 price target on shares of Incyte in a research report on Tuesday. Wall Street Zen downgraded shares of Incyte from a "buy" rating to a "hold" rating in a research report on Saturday. Morgan Stanley set a $119.00 price objective on shares of Incyte in a research report on Wednesday. BMO Capital Markets increased their price objective on shares of Incyte from $112.00 to $130.00 and gave the stock a "market perform" rating in a research note on Wednesday. Finally, Stifel Nicolaus set a $145.00 target price on shares of Incyte in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $117.74.
Check Out Our Latest Report on Incyte
Incyte Company Profile
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Free Report)
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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