Incyte Corporation $INCY Position Increased by Ashford Capital Management Inc.

Ashford Capital Management Inc. boosted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 18.8% in the first quarter, HoldingsChannel reports. The firm owned 165,247 shares of the biopharmaceutical company’s stock after purchasing an additional 26,167 shares during the quarter. Incyte makes up approximately 1.9% of Ashford Capital Management Inc.’s holdings, making the stock its 21st largest holding. Ashford Capital Management Inc.’s holdings in Incyte were worth $15,553,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new position in Incyte during the 4th quarter valued at about $1,213,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Incyte by 11.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 210,097 shares of the biopharmaceutical company’s stock worth $20,719,000 after purchasing an additional 21,735 shares during the last quarter. Twin Capital Management Inc. acquired a new stake in shares of Incyte in the first quarter valued at approximately $875,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Incyte by 5,218.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock valued at $58,950,000 after buying an additional 585,618 shares during the last quarter. Finally, Sector Gamma AS raised its holdings in shares of Incyte by 6.7% during the fourth quarter. Sector Gamma AS now owns 218,783 shares of the biopharmaceutical company’s stock valued at $21,609,000 after buying an additional 13,669 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Stock Up 1.0%

Shares of INCY stock opened at $118.87 on Tuesday. Incyte Corporation has a 1 year low of $69.69 and a 1 year high of $120.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The business’s fifty day moving average is $107.30 and its 200-day moving average is $101.72. The stock has a market cap of $23.75 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.06 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. Equities analysts expect that Incyte Corporation will post 6.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group increased their price objective on Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. JPMorgan Chase & Co. boosted their price target on Incyte from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Morgan Stanley increased their price target on Incyte from $103.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Thursday. Royal Bank Of Canada raised their price target on Incyte from $95.00 to $99.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Finally, BMO Capital Markets lifted their price objective on shares of Incyte from $94.00 to $112.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $111.10.

About Incyte

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.