First Mercantile Trust Co. increased its position in shares of Incyte Co. (NASDAQ:INCY) by 97.1% in the 1st quarter, HoldingsChannel reports. The fund owned 3,789 shares of the biopharmaceutical company’s stock after buying an additional 1,867 shares during the quarter. First Mercantile Trust Co.’s holdings in Incyte were worth $326,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in INCY. Norges Bank purchased a new stake in shares of Incyte during the fourth quarter worth $186,630,000. Two Sigma Investments LP increased its position in Incyte by 88.2% during the fourth quarter. Two Sigma Investments LP now owns 1,211,513 shares of the biopharmaceutical company’s stock worth $77,040,000 after buying an additional 567,826 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in Incyte during the first quarter worth $37,747,000. Victory Capital Management Inc. increased its position in Incyte by 13,339.9% during the first quarter. Victory Capital Management Inc. now owns 349,707 shares of the biopharmaceutical company’s stock worth $30,078,000 after buying an additional 347,105 shares during the last quarter. Finally, Polar Capital LLP increased its position in Incyte by 63.9% during the fourth quarter. Polar Capital LLP now owns 757,652 shares of the biopharmaceutical company’s stock worth $48,179,000 after buying an additional 295,310 shares during the last quarter. Institutional investors and hedge funds own 92.20% of the company’s stock.
Several equities analysts have commented on INCY shares. BidaskClub downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Argus increased their target price on shares of Incyte from $83.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, February 25th. SunTrust Banks increased their target price on shares of Incyte to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Raymond James set a $100.00 target price on shares of Incyte and gave the stock a “buy” rating in a research report on Friday, February 15th. Finally, Gabelli raised shares of Incyte from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $92.07.
Shares of NASDAQ:INCY opened at $77.64 on Friday. The stock has a market capitalization of $16.30 billion, a PE ratio of 66.08 and a beta of 1.31. Incyte Co. has a 52-week low of $57.00 and a 52-week high of $88.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.21 and a current ratio of 5.22.
Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.29. The company had revenue of $497.86 million for the quarter, compared to the consensus estimate of $488.00 million. Incyte had a return on equity of 13.28% and a net margin of 12.66%. The firm’s revenue was up 30.2% compared to the same quarter last year. During the same period last year, the business posted ($0.01) earnings per share. On average, sell-side analysts predict that Incyte Co. will post 1.78 earnings per share for the current year.
Incyte Company Profile
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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