Quantinno Capital Management LP Raises Position in Incyte Corporation $INCY

Quantinno Capital Management LP lifted its holdings in Incyte Corporation (NASDAQ:INCY - Free Report) by 28.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,226 shares of the biopharmaceutical company's stock after purchasing an additional 35,423 shares during the quarter. Quantinno Capital Management LP owned about 0.08% of Incyte worth $14,892,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Incyte by 11.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 210,097 shares of the biopharmaceutical company's stock valued at $20,719,000 after buying an additional 21,735 shares during the last quarter. Twin Capital Management Inc. purchased a new position in Incyte in the 1st quarter worth $875,000. Northwestern Mutual Wealth Management Co. lifted its position in Incyte by 5,218.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company's stock worth $58,950,000 after acquiring an additional 585,618 shares during the period. Sector Gamma AS increased its holdings in shares of Incyte by 6.7% in the fourth quarter. Sector Gamma AS now owns 218,783 shares of the biopharmaceutical company's stock valued at $21,609,000 after purchasing an additional 13,669 shares during the period. Finally, GC Wealth Management RIA LLC acquired a new position in shares of Incyte in the fourth quarter valued at about $1,629,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on INCY. JPMorgan Chase & Co. upped their price objective on shares of Incyte from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. HC Wainwright raised their target price on Incyte from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Weiss Ratings upgraded Incyte from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday. Oppenheimer reaffirmed a "market perform" rating and set a $120.00 target price on shares of Incyte in a report on Tuesday, July 28th. Finally, BMO Capital Markets boosted their target price on shares of Incyte from $112.00 to $130.00 and gave the company a "market perform" rating in a research note on Wednesday, July 29th. Eight research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $117.74.

Incyte Price Performance

Shares of NASDAQ INCY opened at $119.52 on Monday. The stock has a market capitalization of $24.23 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 3.96 and a beta of 0.76. Incyte Corporation has a 52 week low of $73.81 and a 52 week high of $132.60. The firm has a 50-day simple moving average of $109.54 and a 200-day simple moving average of $102.21.

Incyte (NASDAQ:INCY - Get Free Report) last issued its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.94. The business had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The business's revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 EPS. As a group, equities research analysts expect that Incyte Corporation will post 2.5 EPS for the current year.

Incyte Company Profile

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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