BlackRock Inc. Acquires 460,500 Shares of Incyte Co. (NASDAQ:INCY)

BlackRock Inc. raised its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.7% during the third quarter, HoldingsChannel reports. The fund owned 17,411,778 shares of the biopharmaceutical company’s stock after purchasing an additional 460,500 shares during the quarter. BlackRock Inc. owned about 0.08% of Incyte worth $1,197,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Ieq Capital LLC raised its holdings in Incyte by 5.1% during the 3rd quarter. Ieq Capital LLC now owns 3,394 shares of the biopharmaceutical company’s stock valued at $234,000 after acquiring an additional 165 shares during the period. National Asset Management Inc. raised its holdings in Incyte by 6.7% during the 2nd quarter. National Asset Management Inc. now owns 3,203 shares of the biopharmaceutical company’s stock valued at $270,000 after acquiring an additional 200 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Incyte by 31.8% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,087 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 262 shares during the period. Grandfield & Dodd LLC grew its position in shares of Incyte by 2.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 13,140 shares of the biopharmaceutical company’s stock valued at $900,000 after purchasing an additional 280 shares in the last quarter. Finally, Berman Capital Advisors LLC grew its position in shares of Incyte by 147.5% during the 2nd quarter. Berman Capital Advisors LLC now owns 646 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 385 shares in the last quarter. 91.06% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on INCY shares. BMO Capital Markets started coverage on shares of Incyte in a research report on Thursday, November 18th. They set a “market perform” rating and a $75.00 price target for the company. JMP Securities restated a “buy” rating and set a $108.00 price target on shares of Incyte in a research report on Friday, December 17th. Morgan Stanley reduced their price target on shares of Incyte from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, September 23rd. Cantor Fitzgerald reduced their price target on shares of Incyte from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, October 15th. Finally, Truist Securities reduced their price target on shares of Incyte from $120.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.73.

NASDAQ INCY opened at $74.88 on Friday. The company has a 50-day simple moving average of $69.31 and a two-hundred day simple moving average of $72.16. The company has a quick ratio of 3.91, a current ratio of 3.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12-month low of $61.91 and a 12-month high of $101.47. The firm has a market cap of $16.54 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 0.63 and a beta of 0.74.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, November 2nd. The biopharmaceutical company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.45. Incyte had a net margin of 18.35% and a return on equity of 22.27%. The business had revenue of $812.99 million during the quarter, compared to analyst estimates of $748.16 million. Equities analysts expect that Incyte Co. will post 2.66 earnings per share for the current fiscal year.

In other news, Director Bros. Advisors Lp Baker acquired 350,332 shares of the stock in a transaction dated Wednesday, December 15th. The stock was purchased at an average cost of $71.51 per share, with a total value of $25,052,241.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendy L. Dixon sold 20,000 shares of the company’s stock in a transaction dated Thursday, December 23rd. The shares were sold at an average price of $22.05, for a total transaction of $441,000.00. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

About Incyte

Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late stage development, and commercialized products such as JAKAFI (ruxolitinib), and ICLUSIG (ponatinib).

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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