Yousif Capital Management LLC Sells 373 Shares of Incyte Corporation (NASDAQ:INCY)

Yousif Capital Management LLC lowered its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,736 shares of the biopharmaceutical company’s stock after selling 373 shares during the quarter. Yousif Capital Management LLC’s holdings in Incyte were worth $1,013,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC lifted its position in Incyte by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company’s stock valued at $278,346,000 after purchasing an additional 103,910 shares during the last quarter. AQR Capital Management LLC lifted its position in Incyte by 29.7% during the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company’s stock valued at $241,519,000 after purchasing an additional 801,090 shares during the last quarter. LSV Asset Management raised its stake in shares of Incyte by 18.6% in the fourth quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company’s stock valued at $239,500,000 after acquiring an additional 544,080 shares during the period. Bellevue Group AG raised its stake in shares of Incyte by 0.3% in the fourth quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company’s stock valued at $149,017,000 after acquiring an additional 6,927 shares during the period. Finally, Norges Bank purchased a new stake in shares of Incyte in the fourth quarter valued at $121,890,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 0.8%

INCY stock opened at $68.27 on Thursday. The firm has a 50 day moving average of $62.97 and a 200 day moving average of $66.97. The stock has a market capitalization of $13.22 billion, a PE ratio of 213.35, a price-to-earnings-growth ratio of 0.58 and a beta of 0.67. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $996.17 million. Incyte had a net margin of 0.48% and a return on equity of 2.77%. Incyte’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. Sell-side analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

INCY has been the topic of several recent analyst reports. Wall Street Zen raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. Citigroup reissued a “buy” rating on shares of Incyte in a research note on Tuesday, June 3rd. UBS Group reissued a “neutral” rating and issued a $61.00 target price on shares of Incyte in a research note on Tuesday, June 3rd. William Blair downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. Finally, Royal Bank Of Canada increased their target price on shares of Incyte from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.53.

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 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.