KBC Group NV Reduces Stock Position in Incyte Corporation (NASDAQ:INCY)

KBC Group NV trimmed its position in Incyte Corporation (NASDAQ:INCY - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,010,982 shares of the biopharmaceutical company's stock after selling 45,652 shares during the quarter. KBC Group NV owned about 0.52% of Incyte worth $61,215,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of INCY. Geode Capital Management LLC increased its holdings in Incyte by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock valued at $278,346,000 after buying an additional 103,910 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Incyte by 29.7% during the 4th quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock valued at $241,519,000 after acquiring an additional 801,090 shares during the period. LSV Asset Management increased its stake in shares of Incyte by 18.6% in the 4th quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock valued at $239,500,000 after purchasing an additional 544,080 shares in the last quarter. Bellevue Group AG increased its stake in shares of Incyte by 0.3% in the 4th quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company's stock valued at $149,017,000 after purchasing an additional 6,927 shares in the last quarter. Finally, Norges Bank acquired a new position in Incyte in the 4th quarter worth about $121,890,000. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Trading Down 3.4%

Incyte stock opened at $68.37 on Monday. 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 firm's 50-day moving average is $64.49 and its 200-day moving average is $66.66. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $83.95. The company has a market cap of $13.23 billion, a P/E ratio of 213.66, a PEG ratio of 0.58 and a beta of 0.67.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.15. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts expect that Incyte Corporation will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stifel Nicolaus raised Incyte from a "hold" rating to a "buy" rating and upped their target price for the stock from $75.00 to $107.00 in a research note on Monday, June 16th. Wall Street Zen raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Citigroup reaffirmed a "buy" rating on shares of Incyte in a report on Tuesday, June 3rd. 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 research report on Monday, March 24th. Finally, Royal Bank Of Canada set a $67.00 target price on shares of Incyte and gave the stock a "sector perform" rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Incyte currently has an average rating of "Hold" and an average target price of $74.53.

Incyte 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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