Federated Hermes Inc. Has $55.95 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Federated Hermes Inc. lifted its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 891,031 shares of the biopharmaceutical company's stock after acquiring an additional 26,321 shares during the period. Federated Hermes Inc. owned about 0.40% of Incyte worth $55,948,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ARK Investment Management LLC raised its position in shares of Incyte by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 531,625 shares of the biopharmaceutical company's stock valued at $33,381,000 after acquiring an additional 37,932 shares in the last quarter. State of Alaska Department of Revenue increased its position in Incyte by 13.6% in the third quarter. State of Alaska Department of Revenue now owns 64,309 shares of the biopharmaceutical company's stock worth $3,714,000 after buying an additional 7,695 shares during the period. Royal Bank of Canada increased its position in Incyte by 85.3% in the third quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company's stock worth $57,021,000 after buying an additional 454,416 shares during the period. RFG Advisory LLC acquired a new stake in Incyte in the fourth quarter worth $206,000. Finally, Raymond James & Associates acquired a new stake in Incyte in the fourth quarter worth $2,291,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on INCY shares. Bank of America dropped their target price on Incyte from $69.00 to $67.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 13th. JMP Securities lowered Incyte from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 14th. Truist Financial dropped their target price on Incyte from $91.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, February 14th. William Blair reissued an "outperform" rating on shares of Incyte in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $65.00 price target on shares of Incyte in a research note on Monday, March 25th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Incyte currently has a consensus rating of "Moderate Buy" and an average target price of $76.07.

Incyte Stock Down 0.9 %

Shares of INCY traded down $0.47 during midday trading on Friday, reaching $52.35. 2,181,297 shares of the stock were exchanged, compared to its average volume of 1,540,801. The firm has a 50 day simple moving average of $57.46 and a 200-day simple moving average of $57.91. 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 12-month low of $50.27 and a 12-month high of $75.74. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 1.22 and a beta of 0.65.

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