SG Americas Securities LLC grew its position in Incyte Co. (NASDAQ:INCY – Free Report) by 698.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,742 shares of the biopharmaceutical company’s stock after purchasing an additional 19,894 shares during the quarter. SG Americas Securities LLC’s holdings in Incyte were worth $1,644,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. State of Michigan Retirement System boosted its holdings in Incyte by 1.4% during the first quarter. State of Michigan Retirement System now owns 50,859 shares of the biopharmaceutical company’s stock valued at $3,676,000 after acquiring an additional 700 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Incyte by 11.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,176 shares of the biopharmaceutical company’s stock valued at $1,241,000 after purchasing an additional 1,716 shares during the period. Handelsbanken Fonder AB boosted its holdings in Incyte by 5.8% in the 1st quarter. Handelsbanken Fonder AB now owns 121,244 shares of the biopharmaceutical company’s stock valued at $8,762,000 after purchasing an additional 6,686 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Incyte by 33.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 3,021 shares of the biopharmaceutical company’s stock valued at $218,000 after acquiring an additional 761 shares during the period. Finally, Arizona State Retirement System increased its stake in Incyte by 2.7% during the first quarter. Arizona State Retirement System now owns 54,978 shares of the biopharmaceutical company’s stock valued at $3,973,000 after acquiring an additional 1,462 shares during the period. 97.53% of the stock is currently owned by institutional investors.
Incyte Trading Up 0.2 %
Shares of INCY opened at $64.15 on Monday. Incyte Co. has a 1-year low of $60.56 and a 1-year high of $86.29. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 44.24, a PEG ratio of 3.24 and a beta of 0.71. The firm’s 50-day moving average price is $62.58 and its 200-day moving average price is $71.37. The company has a current ratio of 3.95, a quick ratio of 3.91 and a debt-to-equity ratio of 0.01.
Analysts Set New Price Targets
Several research analysts recently commented on the company. StockNews.com assumed coverage on Incyte in a research report on Thursday, May 18th. They issued a “buy” rating for the company. JMP Securities lowered their target price on shares of Incyte from $113.00 to $93.00 in a research note on Thursday, May 4th. 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. Stifel Nicolaus lowered their target price on shares of Incyte from $80.00 to $73.00 in a report on Wednesday, May 3rd. Finally, BMO Capital Markets decreased their target price on Incyte from $75.00 to $70.00 in a report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and an average price target of $81.31.
Incyte Company 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, 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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