Federated Hermes Inc. Raises Stock Position in Incyte Co. (NASDAQ:INCY)

Federated Hermes Inc. grew its position in Incyte Co. (NASDAQ:INCY) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 891,031 shares of the biopharmaceutical company’s stock after buying an additional 26,321 shares during the period. Federated Hermes Inc. owned 0.40% of Incyte worth $55,948,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clear Street Markets LLC lifted its position in Incyte by 93.6% in the first quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 175 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Incyte in the 4th quarter valued at approximately $31,000. Parkside Financial Bank & Trust boosted its position in shares of Incyte by 91.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 213 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Incyte by 157.3% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 472 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in Incyte by 40.0% in 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 during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Down 0.9 %

Shares of NASDAQ INCY opened at $52.35 on Friday. The business has a 50-day moving average price of $57.46 and a 200 day moving average price of $57.92. The stock has a market cap of $11.75 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.22 and a beta of 0.65. 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 52-week low of $50.27 and a 52-week high of $75.74.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on INCY shares. Truist Financial lowered their price target on Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. BMO Capital Markets boosted their price target on shares of Incyte from $58.00 to $64.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 14th. Finally, Jefferies Financial Group started coverage on Incyte in a research note on Friday, February 23rd. They issued a “buy” rating and a $81.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.07.

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.