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

Xponance Inc. trimmed its holdings in shares of Incyte Co. (NASDAQ:INCY) by 8.4% during the 4th quarter, according to the company in its most recent 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 quarter. Xponance Inc.’s holdings in Incyte were worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Federated Hermes Inc. grew its stake in Incyte by 3.0% during the 4th quarter. Federated Hermes Inc. now owns 891,031 shares of the biopharmaceutical company’s stock worth $55,948,000 after buying an additional 26,321 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Incyte by 157.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 472 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Incyte by 12.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,064 shares of the biopharmaceutical company’s stock valued at $1,448,000 after purchasing an additional 2,599 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Incyte by 34.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 335,735 shares of the biopharmaceutical company’s stock valued at $21,081,000 after purchasing an additional 85,658 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Incyte by 13.9% during the 4th quarter. Mackenzie Financial Corp now owns 373,789 shares of the biopharmaceutical company’s stock valued at $23,470,000 after purchasing an additional 45,578 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on INCY shares. JMP Securities downgraded Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Bank of America dropped their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. BMO Capital Markets boosted their price target on Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Finally, Stifel Nicolaus boosted their price objective on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Incyte currently has an average rating of “Moderate Buy” and an average target price of $76.07.

Incyte Price Performance

Shares of Incyte stock opened at $51.92 on Tuesday. The business has a 50 day simple moving average of $57.34 and a two-hundred day simple moving average of $57.86. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $75.74. The stock has a market capitalization of $11.66 billion, a P/E ratio of 19.59, a PEG ratio of 1.21 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the company earned $0.44 EPS. Incyte’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts predict that Incyte Co. will post 3.85 EPS for the current fiscal year.

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.