Incyte Co. (NASDAQ:INCY) Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC increased its position in Incyte Co. (NASDAQ:INCY - Free Report) by 90.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,168 shares of the biopharmaceutical company's stock after buying an additional 7,186 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Incyte were worth $918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Incyte by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock worth $278,346,000 after buying an additional 103,910 shares in the last quarter. AQR Capital Management LLC boosted its holdings 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 worth $241,519,000 after buying an additional 801,090 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Incyte by 18.6% during the 4th quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock worth $239,500,000 after buying an additional 544,080 shares in the last quarter. Bellevue Group AG boosted its holdings in shares of Incyte by 0.3% during the 4th quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company's stock worth $149,017,000 after buying an additional 6,927 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Incyte during the 4th quarter worth approximately $121,890,000. Institutional investors and hedge funds own 96.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INCY shares. Truist Financial increased their target price on Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a report on Tuesday, May 27th. William Blair lowered Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. Guggenheim lowered Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective for the company. in a report on Tuesday, March 18th. JPMorgan Chase & Co. cut their target price on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Wells Fargo & Company raised their target price on Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Incyte has an average rating of "Hold" and an average target price of $72.53.

Incyte Stock Performance

Incyte stock traded down $1.47 during trading hours on Friday, hitting $67.75. 1,834,959 shares of the stock traded hands, compared to its average volume of 2,074,764. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The firm's 50 day moving average price is $62.30 and its 200-day moving average price is $67.03. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 250.94, a P/E/G ratio of 0.41 and a beta of 0.67. Incyte Co. has a 1 year low of $53.56 and a 1 year high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, equities analysts expect that Incyte Co. will post 4.86 EPS for the current fiscal year.

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.