Deutsche Bank AG Boosts Stock Position in Incyte Co. (NASDAQ:INCY)

Deutsche Bank AG lifted its position in Incyte Co. (NASDAQ:INCY – Get Rating) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 626,955 shares of the biopharmaceutical company’s stock after buying an additional 12,219 shares during the quarter. Deutsche Bank AG owned approximately 0.28% of Incyte worth $50,357,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Incyte by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 21,228,061 shares of the biopharmaceutical company’s stock valued at $1,414,638,000 after buying an additional 238,448 shares during the period. BlackRock Inc. raised its holdings in shares of Incyte by 3.1% in the 3rd quarter. BlackRock Inc. now owns 19,644,663 shares of the biopharmaceutical company’s stock valued at $1,309,121,000 after buying an additional 585,285 shares during the period. State Street Corp grew its stake in Incyte by 1.1% during the 3rd quarter. State Street Corp now owns 9,552,953 shares of the biopharmaceutical company’s stock worth $636,609,000 after purchasing an additional 100,077 shares in the last quarter. Royal Bank of Canada grew its stake in Incyte by 0.6% during the 3rd quarter. Royal Bank of Canada now owns 9,206,851 shares of the biopharmaceutical company’s stock worth $613,542,000 after purchasing an additional 56,188 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Incyte by 2.3% during the 1st quarter. Renaissance Technologies LLC now owns 4,697,633 shares of the biopharmaceutical company’s stock worth $373,086,000 after purchasing an additional 106,900 shares in the last quarter. Hedge funds and other institutional investors own 95.08% of the company’s stock.

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Incyte Trading Down 0.8 %

NASDAQ:INCY opened at $61.04 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.91 and a current ratio of 3.95. Incyte Co. has a one year low of $60.61 and a one year high of $86.29. The business’s 50-day simple moving average is $68.27 and its 200 day simple moving average is $75.32. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 42.10, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72.

Incyte (NASDAQ:INCY – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.50). Incyte had a return on equity of 9.99% and a net margin of 9.35%. The business had revenue of $808.67 million during the quarter, compared to analyst estimates of $871.17 million. As a group, sell-side analysts predict that Incyte Co. will post 2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on INCY. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Monday, March 20th. JMP Securities lowered their target price on Incyte from $113.00 to $93.00 in a research note on Thursday, May 4th. Stifel Nicolaus lowered their target price on Incyte from $80.00 to $73.00 in a research note on Wednesday, May 3rd. Morgan Stanley boosted their target price on Incyte from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 12th. Finally, SVB Securities raised Incyte from an “underperform” rating to a “market perform” rating and set a $61.00 price objective for the company in a research report on Friday, March 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Incyte presently has an average rating of “Hold” and an average target price of $81.50.

Incyte Profile

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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, Europe, Japan, and internationally. The company offers JAKAFI (ruxolitinib), for the treatment of adults with intermediate or high-risk myelofibrosis; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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