Wealth Enhancement Advisory Services LLC Has $4.83 Million Holdings in Incyte Corporation (NASDAQ:INCY)

Wealth Enhancement Advisory Services LLC increased its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 66.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,735 shares of the biopharmaceutical company's stock after acquiring an additional 31,851 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Incyte were worth $4,828,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of INCY. Wells Fargo & Company MN grew its holdings in shares of Incyte by 61.3% in the 4th quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company's stock worth $12,031,000 after acquiring an additional 66,220 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Incyte by 13.5% in the 4th quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock worth $22,354,000 after purchasing an additional 38,550 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Incyte by 73.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock worth $90,749,000 after purchasing an additional 556,218 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Incyte by 474.1% during the first quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company's stock valued at $94,000 after buying an additional 1,280 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Incyte by 2.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 30,527 shares of the biopharmaceutical company's stock worth $2,109,000 after buying an additional 782 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of Incyte stock traded down $2.44 on Friday, reaching $68.37. The stock had a trading volume of 3,495,236 shares, compared to its average volume of 2,014,934. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $83.95. The business's 50-day moving average price is $64.29 and its two-hundred day moving average price is $66.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 2.04. The stock has a market cap of $13.23 billion, a P/E ratio of 213.66, a price-to-earnings-growth ratio of 0.60 and a beta of 0.67.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations 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 prior year, the company earned $0.64 earnings per share. On average, sell-side analysts forecast that Incyte Corporation will post 4.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Guggenheim lowered shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective for the company. in a research note on Tuesday, March 18th. Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Truist Financial upped their price target on Incyte from $72.00 to $73.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. UBS Group reissued a "neutral" rating and issued a $61.00 price objective on shares of Incyte in a research note on Tuesday, June 3rd. Finally, Royal Bank Of Canada set a $67.00 target price on Incyte and gave the company a "sector perform" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $74.53.

About Incyte

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.