Dynamic Technology Lab Private Ltd decreased its stake in shares of Incyte Co. (NASDAQ:INCY – Free Report) by 81.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,433 shares of the biopharmaceutical company’s stock after selling 24,126 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Incyte were worth $341,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of INCY. Norges Bank purchased a new position in Incyte during the fourth quarter worth $123,253,000. LSV Asset Management grew its position in shares of Incyte by 119.6% in the fourth quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock valued at $169,020,000 after purchasing an additional 1,465,792 shares during the period. Pacer Advisors Inc. grew its position in shares of Incyte by 2,858.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock valued at $64,409,000 after purchasing an additional 991,110 shares during the period. Acadian Asset Management LLC grew its position in shares of Incyte by 56.6% in the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock valued at $155,053,000 after purchasing an additional 970,668 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Incyte by 145.2% in the third quarter. Federated Hermes Inc. now owns 864,710 shares of the biopharmaceutical company’s stock valued at $49,954,000 after purchasing an additional 512,083 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. BMO Capital Markets lowered their price objective on Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research report on Wednesday, May 1st. Truist Financial reaffirmed a “buy” rating and issued a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Cantor Fitzgerald assumed coverage on Incyte in a report on Tuesday, April 23rd. They issued a “neutral” rating on the stock. Finally, Oppenheimer reduced their target price on Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.69.
Get Our Latest Research Report on INCY
Incyte Trading Down 0.2 %
Shares of INCY opened at $57.31 on Monday. The stock’s 50-day moving average is $55.09 and its two-hundred day moving average is $57.75. The stock has a market cap of $12.87 billion, a PE ratio of 17.37, a P/E/G ratio of 1.76 and a beta of 0.69. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $67.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43.
Incyte (NASDAQ:INCY – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The company had revenue of $880.89 million for the quarter, compared to analyst estimates of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. Equities analysts forecast that Incyte Co. will post 3.66 earnings per share for the current fiscal year.
Incyte Profile
(Free Report)
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.
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