BI Asset Management Fondsmaeglerselskab A S Boosts Position in Incyte Co. (NASDAQ:INCY)

BI Asset Management Fondsmaeglerselskab A S raised its stake in Incyte Co. (NASDAQ:INCYFree Report) by 326.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,568 shares of the biopharmaceutical company’s stock after acquiring an additional 8,092 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Incyte were worth $664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Larson Financial Group LLC raised its stake in Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 422 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Incyte in the 4th quarter valued at about $31,000. Quadrant Capital Group LLC lifted its stake in shares of Incyte by 85.2% during the fourth quarter. Quadrant Capital Group LLC now owns 711 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 327 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Incyte by 157.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 472 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Incyte by 40.0% in 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. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Price Performance

Incyte stock opened at $58.20 on Thursday. Incyte Co. has a one year low of $50.27 and a one year high of $67.36. 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 business has a 50 day simple moving average of $55.14 and a 200 day simple moving average of $57.69. The company has a market capitalization of $13.07 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.69.

Incyte (NASDAQ:INCYGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The firm had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. On average, sell-side analysts forecast that Incyte Co. will post 3.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. William Blair restated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. BMO Capital Markets reduced their price target on shares of Incyte from $56.00 to $52.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 1st. Stifel Nicolaus boosted their price objective on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.93.

Check Out Our Latest Research Report on INCY

About Incyte

(Free Report)

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.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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