Xponance Inc. Reduces Position in Incyte Co. (NASDAQ:INCY)

Xponance Inc. cut its holdings in shares of Incyte Co. (NASDAQ:INCY) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,254 shares of the biopharmaceutical company’s stock after selling 3,322 shares during the period. Xponance Inc.’s holdings in Incyte were worth $2,276,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Incyte by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,159,419 shares of the biopharmaceutical company’s stock valued at $1,280,150,000 after buying an additional 289,882 shares during the last quarter. Invesco Ltd. boosted its position in shares of Incyte by 3.2% during the third quarter. Invesco Ltd. now owns 3,922,045 shares of the biopharmaceutical company’s stock valued at $226,577,000 after buying an additional 120,838 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Incyte by 56.6% during the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock valued at $155,053,000 after buying an additional 970,668 shares during the last quarter. Northern Trust Corp boosted its position in shares of Incyte by 5.9% during the third quarter. Northern Trust Corp now owns 2,127,688 shares of the biopharmaceutical company’s stock valued at $122,917,000 after buying an additional 119,389 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Incyte by 17.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,085,465 shares of the biopharmaceutical company’s stock valued at $120,477,000 after buying an additional 313,731 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Down 0.8 %

NASDAQ INCY opened at $51.92 on Tuesday. 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. The stock’s 50-day moving average price is $57.34 and its 200-day moving average price is $57.86. The company has a market capitalization of $11.66 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 1.21 and a beta of 0.65.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Incyte Co. will post 3.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Incyte in a report on Friday, February 23rd. They issued a “buy” rating and a $81.00 target price on the stock. Stifel Nicolaus increased their target price on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. Citigroup lowered their target price on Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. William Blair reissued an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Finally, Truist Financial lowered their target price on Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.