Inceptionr LLC Buys New Stake in Incyte Corporation $INCY

Inceptionr LLC bought a new stake in shares of Incyte Corporation (NASDAQ:INCY) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 13,713 shares of the biopharmaceutical company’s stock, valued at approximately $1,291,000.

Several other institutional investors and hedge funds also recently modified their holdings of INCY. Elyxium Wealth LLC bought a new stake in shares of Incyte during the fourth quarter valued at about $28,000. Smithfield Trust Co grew its position in Incyte by 135.0% in the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 162 shares in the last quarter. MUFG Securities EMEA plc bought a new position in Incyte in the 2nd quarter valued at about $32,000. CYBER HORNET ETFs LLC acquired a new position in Incyte during the 2nd quarter valued at about $33,000. Finally, Leonteq Securities AG acquired a new position in Incyte during the 4th quarter valued at about $35,000. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ INCY opened at $116.69 on Friday. Incyte Corporation has a twelve month low of $69.69 and a twelve month high of $119.60. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $106.38 and a two-hundred day moving average of $101.52. The company has a market capitalization of $23.31 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.05 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. As a group, analysts expect that Incyte Corporation will post 6.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Oppenheimer reaffirmed a “market perform” rating and issued a $107.00 price target on shares of Incyte in a research note on Monday, June 8th. Royal Bank Of Canada raised their price objective on shares of Incyte from $95.00 to $99.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. UBS Group boosted their target price on Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Citigroup restated a “market perform” rating on shares of Incyte in a research report on Wednesday, July 15th. Finally, Barclays increased their price target on Incyte from $117.00 to $134.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $111.10.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.