Incyte Co. (NASDAQ:INCY) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 19.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,540 shares of the biopharmaceutical company's stock after selling 37,941 shares during the quarter. Van ECK Associates Corp owned about 0.07% of Incyte worth $9,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allworth Financial LP grew its position in shares of Incyte by 40.0% during the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company's stock valued at $50,000 after purchasing an additional 229 shares in the last quarter. Grandfield & Dodd LLC grew its position in shares of Incyte by 1.8% during the 4th quarter. Grandfield & Dodd LLC now owns 18,390 shares of the biopharmaceutical company's stock valued at $1,155,000 after purchasing an additional 319 shares in the last quarter. MQS Management LLC grew its position in shares of Incyte by 6.2% during the 3rd quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company's stock valued at $322,000 after purchasing an additional 327 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of Incyte by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 89,217 shares of the biopharmaceutical company's stock valued at $5,154,000 after purchasing an additional 335 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Incyte by 28.8% during the 3rd quarter. Covestor Ltd now owns 1,606 shares of the biopharmaceutical company's stock valued at $93,000 after purchasing an additional 359 shares in the last quarter. Institutional investors own 96.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INCY. Citigroup reduced their price target on shares of Incyte from $82.00 to $81.00 and set a "buy" rating for the company in a research report on Wednesday, February 14th. JMP Securities lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 14th. TD Cowen cut their target price on shares of Incyte from $88.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday. Jefferies Financial Group assumed coverage on shares of Incyte in a research report on Friday, February 23rd. They issued a "buy" rating and a $81.00 target price for the company. Finally, Cantor Fitzgerald assumed coverage on shares of Incyte in a research report on Tuesday, April 23rd. They issued a "neutral" rating for the company. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $74.93.

Incyte Stock Up 1.3 %

INCY traded up $0.67 on Friday, hitting $53.76. The company had a trading volume of 1,407,348 shares, compared to its average volume of 1,796,104. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.36. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $67.72. The stock has a fifty day simple moving average of $56.23 and a 200-day simple moving average of $57.58. The firm has a market capitalization of $12.07 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.24 and a beta of 0.69.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1 billion. During the same quarter last year, the business earned $0.44 earnings per share. The business's quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Incyte Co. will post 3.81 EPS for the current fiscal 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.