8,295 Shares in Incyte Co. (NASDAQ:INCY) Purchased by Visionary Horizons LLC

Visionary Horizons LLC bought a new stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,295 shares of the biopharmaceutical company's stock, valued at approximately $502,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Incyte during the fourth quarter worth about $121,890,000. AQR Capital Management LLC increased 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 valued at $241,519,000 after purchasing an additional 801,090 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Incyte by 861.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company's stock worth $61,587,000 after buying an additional 798,877 shares in the last quarter. Sound Shore Management Inc. CT grew its position in Incyte by 98.4% during the fourth quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock valued at $82,959,000 after buying an additional 595,741 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in Incyte by 73.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock worth $90,749,000 after purchasing an additional 556,218 shares during the period. 96.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on INCY. Royal Bank of Canada raised their target price on Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. UBS Group reaffirmed a "neutral" rating and set a $61.00 target price on shares of Incyte in a report on Tuesday, June 3rd. JPMorgan Chase & Co. decreased their price target on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Guggenheim lowered shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target on the stock. in a research report on Tuesday, March 18th. Finally, Wall Street Zen upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Incyte currently has an average rating of "Hold" and a consensus target price of $72.53.

Incyte Stock Performance

Incyte stock traded down $1.47 during mid-day trading on Friday, hitting $67.75. 1,834,959 shares of the company's stock traded hands, compared to its average volume of 2,103,514. Incyte Co. has a one year low of $53.56 and a one year high of $83.95. The company has a market cap of $13.11 billion, a PE ratio of 250.94, a price-to-earnings-growth ratio of 0.41 and a beta of 0.67. The firm has a 50 day moving average price of $62.09 and a 200 day moving average price of $67.14. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $996.17 million. During the same period last year, the company posted $0.64 EPS. The firm's quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

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.