Strs Ohio lifted its holdings in Incyte Co. (NASDAQ:INCY – Free Report) by 14.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,855 shares of the biopharmaceutical company’s stock after buying an additional 3,766 shares during the period. Strs Ohio’s holdings in Incyte were worth $2,157,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Janiczek Wealth Management LLC lifted its stake in Incyte by 1,120.7% in the first quarter. Janiczek Wealth Management LLC now owns 354 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 325 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Incyte by 91.0% in the first quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 213 shares during the last quarter. Desjardins Global Asset Management Inc. lifted its stake in Incyte by 22.7% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 687 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 127 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in Incyte by 1,458.0% in the second quarter. Salem Investment Counselors Inc. now owns 779 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 729 shares during the last quarter. Finally, CI Investments Inc. lifted its stake in Incyte by 53.6% in the fourth quarter. CI Investments Inc. now owns 779 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 97.53% of the company’s stock.
Incyte Trading Up 1.0 %
Incyte stock opened at $61.68 on Wednesday. The stock has a market cap of $13.76 billion, a P/E ratio of 42.54, a PEG ratio of 3.12 and a beta of 0.71. Incyte Co. has a fifty-two week low of $60.56 and a fifty-two week high of $86.29. The firm’s fifty day moving average price is $62.63 and its 200-day moving average price is $71.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.91 and a current ratio of 3.95.
Analyst Ratings Changes
INCY has been the topic of several research analyst reports. StockNews.com assumed coverage on Incyte in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Bank of America cut shares of Incyte from a “buy” rating to a “neutral” rating and set a $84.00 target price on the stock. in a report on Thursday, May 4th. Mizuho lowered their target price on shares of Incyte from $95.00 to $82.00 in a report on Wednesday, May 3rd. Royal Bank of Canada lowered their target price on shares of Incyte from $79.00 to $70.00 in a report on Wednesday, May 3rd. Finally, SVB Securities raised shares of Incyte from an “underperform” rating to a “market perform” rating and set a $61.00 target price on the stock in a report on Friday, March 24th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $81.50.
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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