Mn Services Vermogensbeheer B.V. raised its holdings in shares of Incyte Co. (NASDAQ:INCY – Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,700 shares of the biopharmaceutical company’s stock after acquiring an additional 2,300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Incyte were worth $6,699,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the business. Parallel Advisors LLC lifted its stake in Incyte by 34.3% during the first quarter. Parallel Advisors LLC now owns 2,996 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 765 shares during the last quarter. RIA Advisory Group LLC acquired a new position in shares of Incyte in the 1st quarter valued at $272,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Incyte in the 1st quarter valued at $581,000. Machina Capital S.A.S. grew its position in shares of Incyte by 154.9% in the 1st quarter. Machina Capital S.A.S. now owns 10,601 shares of the biopharmaceutical company’s stock valued at $766,000 after buying an additional 6,442 shares during the last quarter. Finally, Berger Financial Group Inc acquired a new stake in Incyte during the 1st quarter worth $4,263,000. Hedge funds and other institutional investors own 97.53% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on INCY. Bank of America lowered Incyte from a “buy” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a report on Thursday, May 4th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Monday, March 20th. SVB Securities upgraded shares of Incyte from an “underperform” rating to a “market perform” rating and set a $61.00 target price on the stock in a research report on Friday, March 24th. Mizuho decreased their price target on shares of Incyte from $95.00 to $82.00 in a research note on Wednesday, May 3rd. Finally, BMO Capital Markets dropped their price objective on shares of Incyte from $75.00 to $70.00 in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $81.50.
Incyte Stock Performance
Incyte (NASDAQ:INCY – Get Free Report) last released its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.50). Incyte had a return on equity of 9.99% and a net margin of 9.35%. The company had revenue of $808.67 million for the quarter, compared to analysts’ expectations of $871.17 million. Analysts expect that Incyte Co. will post 2.83 earnings per share for the current fiscal year.
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, 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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