Sequoia Financial Advisors LLC Decreases Stock Holdings in Incyte Corporation (NASDAQ:INCY)

Sequoia Financial Advisors LLC reduced its stake in shares of Incyte Corporation (NASDAQ:INCY) by 4.1% in the first quarter, HoldingsChannel reports. The firm owned 4,719 shares of the biopharmaceutical company’s stock after selling 203 shares during the period. Sequoia Financial Advisors LLC’s holdings in Incyte were worth $286,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in shares of Incyte by 61.3% during the 4th quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company’s stock worth $12,031,000 after purchasing an additional 66,220 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Incyte by 13.5% during the 4th quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company’s stock worth $22,354,000 after purchasing an additional 38,550 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Incyte by 73.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company’s stock worth $90,749,000 after purchasing an additional 556,218 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Incyte by 0.8% in the first quarter. Asset Management One Co. Ltd. now owns 90,031 shares of the biopharmaceutical company’s stock valued at $5,451,000 after buying an additional 747 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Incyte by 474.1% in the first quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,280 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup reiterated a “buy” rating on shares of Incyte in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. decreased their price target on Incyte from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Guggenheim cut Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a research note on Tuesday, March 18th. Morgan Stanley decreased their price target on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. Finally, Truist Financial increased their price target on Incyte from $72.00 to $73.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $74.53.

Incyte Trading Up 0.4%

Shares of NASDAQ:INCY opened at $68.46 on Friday. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $83.95. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 213.94, a PEG ratio of 0.57 and a beta of 0.68. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $65.34 and a 200-day moving average price of $66.67.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $996.17 million. During the same period last year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts predict that Incyte Corporation will post 4.86 EPS for the current 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.