Great Lakes Advisors LLC Takes Position in Incyte Co. (NASDAQ:INCY)

Great Lakes Advisors LLC purchased a new position in Incyte Co. (NASDAQ:INCY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,382 shares of the biopharmaceutical company's stock, valued at approximately $2,033,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of INCY. Larson Financial Group LLC raised its position in shares of Incyte by 4,220.0% in the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Incyte in the 4th quarter valued at $31,000. Quadrant Capital Group LLC increased its stake in shares of Incyte by 85.2% in the 4th quarter. Quadrant Capital Group LLC now owns 711 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 327 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Incyte by 157.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company's stock worth $48,000 after buying an additional 472 shares in the last quarter. Finally, Allworth Financial LP lifted 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 worth $50,000 after buying an additional 229 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on INCY shares. Royal Bank of Canada reissued a "sector perform" rating and set a $65.00 target price on shares of Incyte in a research note on Monday, March 25th. Oppenheimer lowered their price objective on shares of Incyte from $92.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, April 24th. Jefferies Financial Group initiated coverage on shares of Incyte in a research report on Friday, February 23rd. They issued a "buy" rating and a $81.00 target price on the stock. Bank of America lowered their price target on shares of Incyte from $69.00 to $67.00 and set a "neutral" rating for the company in a report on Wednesday, March 13th. Finally, Citigroup cut their price objective on Incyte from $82.00 to $81.00 and set a "buy" rating on the stock in a report on Wednesday, February 14th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.93.

Incyte Trading Up 0.4 %

NASDAQ INCY traded up $0.21 during mid-day trading on Tuesday, reaching $57.40. 1,759,775 shares of the stock were exchanged, compared to its average volume of 1,891,400. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. The stock has a market cap of $12.89 billion, a P/E ratio of 17.39, a P/E/G ratio of 1.75 and a beta of 0.69. The stock has a 50 day simple moving average of $55.15 and a 200-day simple moving average of $57.68. Incyte Co. has a one year low of $50.27 and a one year high of $67.36.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The business had revenue of $880.89 million during the quarter, compared to the consensus estimate of $935.85 million. On average, analysts anticipate that Incyte Co. will post 3.54 EPS for the current 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.