Mn Services Vermogensbeheer B.V. Boosts Stock Holdings in Incyte Corporation (NASDAQ:INCY)

Mn Services Vermogensbeheer B.V. grew its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,500 shares of the biopharmaceutical company's stock after acquiring an additional 4,500 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Incyte were worth $2,210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of INCY. Asset Management One Co. Ltd. increased its position in shares of Incyte by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 89,284 shares of the biopharmaceutical company's stock valued at $6,181,000 after buying an additional 397 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Incyte by 2.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 61,975 shares of the biopharmaceutical company's stock valued at $4,281,000 after buying an additional 1,416 shares during the period. Sanctuary Advisors LLC increased its position in shares of Incyte by 29.8% during the fourth quarter. Sanctuary Advisors LLC now owns 27,330 shares of the biopharmaceutical company's stock valued at $2,016,000 after buying an additional 6,274 shares during the period. CIBC Asset Management Inc increased its position in shares of Incyte by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 26,493 shares of the biopharmaceutical company's stock valued at $1,830,000 after buying an additional 1,190 shares during the period. Finally, Bryn Mawr Capital Management LLC increased its position in shares of Incyte by 262.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 19,209 shares of the biopharmaceutical company's stock valued at $1,327,000 after buying an additional 13,911 shares during the period. Hedge funds and other institutional investors own 96.97% of the company's stock.

Analyst Ratings Changes

INCY has been the topic of a number of recent research reports. UBS Group restated a "neutral" rating and issued a $61.00 price objective on shares of Incyte in a report on Tuesday, June 3rd. William Blair cut shares of Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. Stifel Nicolaus upgraded shares of Incyte from a "hold" rating to a "buy" rating and upped their price objective for the stock from $75.00 to $107.00 in a report on Monday. JPMorgan Chase & Co. cut their price objective on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Royal Bank Of Canada increased their price target on shares of Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $74.53.

Incyte Stock Performance

INCY traded down $0.54 during trading on Thursday, hitting $68.27. The company's stock had a trading volume of 1,740,637 shares, compared to its average volume of 2,049,015. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.01. Incyte Corporation has a one year low of $53.56 and a one year high of $83.95. The firm has a market cap of $13.22 billion, a PE ratio of 213.35, a P/E/G ratio of 0.57 and a beta of 0.67. The business's 50 day simple moving average is $62.97 and its 200-day simple moving average is $66.97.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.01 by $0.15. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The company's revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. As a group, sell-side analysts predict that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Incyte Company 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.