Larson Financial Group LLC Raises Stock Position in Incyte Co. (NASDAQ:INCY)

Larson Financial Group LLC boosted its position in shares of Incyte Co. (NASDAQ:INCY) by 4,220.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 432 shares of the biopharmaceutical company’s stock after purchasing an additional 422 shares during the period. Larson Financial Group LLC’s holdings in Incyte were worth $27,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of INCY. Pacer Advisors Inc. raised its stake in Incyte by 2,858.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock worth $64,409,000 after purchasing an additional 991,110 shares during the period. Los Angeles Capital Management LLC raised its stake in Incyte by 585.8% during the third quarter. Los Angeles Capital Management LLC now owns 1,145,362 shares of the biopharmaceutical company’s stock worth $66,168,000 after purchasing an additional 978,342 shares during the period. Acadian Asset Management LLC raised its stake in Incyte by 56.6% during the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock worth $155,053,000 after purchasing an additional 970,668 shares during the period. Federated Hermes Inc. raised its stake in Incyte by 145.2% during the third quarter. Federated Hermes Inc. now owns 864,710 shares of the biopharmaceutical company’s stock worth $49,954,000 after purchasing an additional 512,083 shares during the period. Finally, Royal Bank of Canada raised its stake in Incyte by 85.3% during the third quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock worth $57,021,000 after purchasing an additional 454,416 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Up 1.0 %

Shares of INCY stock opened at $51.68 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55. The stock has a market capitalization of $11.60 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.18 and a beta of 0.65. The company has a 50 day moving average price of $56.78 and a 200 day moving average price of $57.70. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $75.74.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm earned $0.44 EPS. The company’s revenue was up 9.3% on a year-over-year basis. Equities research analysts predict that Incyte Co. will post 3.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on INCY. Stifel Nicolaus lifted their target price on shares of Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Bank of America reduced their price target on shares of 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 shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Finally, Jefferies Financial Group began coverage on shares of Incyte in a research note on Friday, February 23rd. They issued a “buy” rating and a $81.00 price target on the stock. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Incyte has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

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 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.