Legacy Trust Has $1.83 Million Position in Incyte Co. (NASDAQ:INCY)

Legacy Trust reduced its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 45.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,116 shares of the biopharmaceutical company's stock after selling 24,472 shares during the period. Legacy Trust's holdings in Incyte were worth $1,828,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of INCY. Cetera Advisor Networks LLC boosted its position in shares of Incyte by 7.4% in the first quarter. Cetera Advisor Networks LLC now owns 5,265 shares of the biopharmaceutical company's stock worth $418,000 after acquiring an additional 362 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Incyte during the first quarter valued at approximately $323,000. D.A. Davidson & CO. raised its stake in shares of Incyte by 4.8% during the first quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company's stock valued at $262,000 after purchasing an additional 150 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Incyte by 6.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,172 shares of the biopharmaceutical company's stock valued at $1,999,000 after purchasing an additional 1,605 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Incyte by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 596,022 shares of the biopharmaceutical company's stock valued at $47,338,000 after purchasing an additional 43,168 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. SVB Leerink upgraded shares of Incyte from a "market perform" rating to an "outperform" rating and set a $78.00 price objective on the stock in a research note on Wednesday, December 13th. Truist Financial dropped their price objective on shares of Incyte from $91.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, February 14th. JMP Securities lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research note on Wednesday, February 14th. BMO Capital Markets lifted their price objective on shares of Incyte from $58.00 to $64.00 and gave the company a "market perform" rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $65.00 price target on shares of Incyte in a research note on Monday, March 25th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $76.07.

Incyte Stock Performance

INCY stock traded up $0.25 during trading on Friday, hitting $55.24. 1,603,328 shares of the company's stock traded hands, compared to its average volume of 1,731,800. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $76.04. The stock has a fifty day moving average price of $58.51 and a two-hundred day moving average price of $58.30. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 1.19 and a beta of 0.65.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the firm posted $0.44 EPS. The business's revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts anticipate that Incyte Co. will post 3.85 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.