Incyte Co. (NASDAQ:INCY) Shares Purchased by Assetmark Inc.

Assetmark Inc. lifted its holdings in Incyte Co. (NASDAQ:INCY) by 10.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,975 shares of the biopharmaceutical company’s stock after purchasing an additional 5,067 shares during the period. Assetmark Inc.’s holdings in Incyte were worth $3,326,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Incyte in the 4th quarter valued at $31,000. Quadrant Capital Group LLC boosted its holdings in shares of Incyte by 85.2% in the 4th quarter. Quadrant Capital Group LLC now owns 711 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 327 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Incyte by 157.3% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 472 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Incyte by 40.0% in the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on INCY shares. BMO Capital Markets lowered their target price on shares of Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a report on Wednesday, May 1st. Stifel Nicolaus upped their target price on shares of Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. JMP Securities downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Finally, Oppenheimer reduced their price target on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.69.

Incyte Price Performance

NASDAQ INCY traded down $0.14 during trading hours on Friday, reaching $57.31. The company’s stock had a trading volume of 1,966,856 shares, compared to its average volume of 2,609,557. The stock has a market cap of $12.87 billion, a PE ratio of 17.37, a PEG ratio of 1.76 and a beta of 0.69. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $67.36. The company’s 50-day moving average is $55.09 and its two-hundred day moving average is $57.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47.

Incyte (NASDAQ:INCY) 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 business had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. Analysts forecast that Incyte Co. will post 3.54 EPS for the current year.

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.