Incyte Co. (NASDAQ:INCY) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. decreased its position in shares of Incyte Co. (NASDAQ:INCY) by 3.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 87,000 shares of the biopharmaceutical company’s stock after selling 3,300 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Incyte were worth $5,463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. ARK Investment Management LLC grew its holdings in Incyte by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 531,625 shares of the biopharmaceutical company’s stock valued at $33,381,000 after purchasing an additional 37,932 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Incyte by 13.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,309 shares of the biopharmaceutical company’s stock valued at $3,714,000 after acquiring an additional 7,695 shares in the last quarter. Royal Bank of Canada raised its position in Incyte by 85.3% during the third quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock worth $57,021,000 after acquiring an additional 454,416 shares during the last quarter. RFG Advisory LLC purchased a new stake in shares of Incyte in the fourth quarter valued at about $206,000. Finally, American Century Companies Inc. grew its position in shares of Incyte by 25.7% in the third quarter. American Century Companies Inc. now owns 248,771 shares of the biopharmaceutical company’s stock valued at $14,372,000 after purchasing an additional 50,930 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Shares of Incyte stock opened at $53.22 on Wednesday. The business’s fifty day moving average price is $57.75 and its 200 day moving average price is $58.03. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $75.74. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $11.95 billion, a P/E ratio of 20.08, a PEG ratio of 1.24 and a beta of 0.65.

Incyte (NASDAQ:INCY) last released 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%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. As a group, research analysts anticipate that Incyte Co. will post 3.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $65.00 target price on shares of Incyte in a research note on Monday, March 25th. Stifel Nicolaus lifted their price objective on Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research report on Wednesday, February 14th. BMO Capital Markets upped their target price on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. JMP Securities downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Finally, Jefferies Financial Group started coverage on shares of Incyte in a research note on Friday, February 23rd. They set a “buy” rating and a $81.00 price objective on the stock. Eight 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.07.

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.