Mediolanum International Funds Ltd Boosts Stake in Incyte Corporation $INCY

Key Points

• Mediolanum International Funds Ltd boosted its Incyte stake by 25.4% in Q1, buying 12,227 more shares and bringing its total to 60,300 shares worth about $5.45 million.
• Institutional interest in Incyte remains heavy, with institutions owning 96.97% of the stock; several other funds also recently increased their positions significantly.
• Incyte recently beat quarterly expectations, reporting EPS of $1.81 versus $1.38 expected and revenue of $1.27 billion, while analysts currently hold a Hold consensus with an average price target of $109.95.

Mediolanum International Funds Ltd increased its stake in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 25.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,300 shares of the biopharmaceutical company's stock after purchasing an additional 12,227 shares during the quarter. Mediolanum International Funds Ltd's holdings in Incyte were worth $5,447,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its position in shares of Incyte by 941.8% in the fourth quarter. Nordea Investment Management AB now owns 322,223 shares of the biopharmaceutical company's stock valued at $31,874,000 after buying an additional 291,293 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in Incyte during the fourth quarter worth about $1,213,000. Fairvoy Private Wealth LLC grew its stake in Incyte by 468.8% during the 4th quarter. Fairvoy Private Wealth LLC now owns 30,169 shares of the biopharmaceutical company's stock valued at $2,980,000 after acquiring an additional 24,865 shares in the last quarter. SG Americas Securities LLC grew its stake in Incyte by 627.8% during the 4th quarter. SG Americas Securities LLC now owns 186,790 shares of the biopharmaceutical company's stock valued at $18,449,000 after acquiring an additional 161,124 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Incyte by 11.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 210,097 shares of the biopharmaceutical company's stock valued at $20,719,000 after acquiring an additional 21,735 shares during the last quarter. Institutional investors own 96.97% of the company's stock.

Analyst Upgrades and Downgrades

INCY has been the topic of several analyst reports. Stifel Nicolaus set a $123.00 price target on Incyte in a report on Tuesday, June 9th. Royal Bank Of Canada lifted their target price on shares of Incyte from $95.00 to $99.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 7th. TD Cowen reissued a "hold" rating on shares of Incyte in a research note on Tuesday, June 9th. Weiss Ratings restated a "buy (b-)" rating on shares of Incyte in a report on Monday, June 29th. Finally, UBS Group lifted their price target on shares of Incyte from $103.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $109.95.

Incyte Price Performance

Incyte stock opened at $115.65 on Tuesday. 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 52-week low of $67.17 and a 52-week high of $119.60. The firm has a market cap of $23.10 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.06 and a beta of 0.76. The company's 50 day moving average is $105.29 and its two-hundred day moving average is $101.16.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.43. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm's quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 earnings per share. On average, research analysts expect that Incyte Corporation will post 6.61 EPS for the current fiscal year.

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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