4,746 Shares in Incyte Co. (INCY) Purchased by Alps Advisors Inc.
Alps Advisors Inc. bought a new position in Incyte Co. (NASDAQ:INCY) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,746 shares of the biopharmaceutical company’s stock, valued at approximately $408,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Eagle Asset Management Inc. purchased a new stake in Incyte in the first quarter worth $37,747,000. Signature Estate & Investment Advisors LLC purchased a new stake in Incyte in the first quarter worth $1,152,000. Emerald Advisers LLC increased its position in Incyte by 23.1% in the first quarter. Emerald Advisers LLC now owns 14,852 shares of the biopharmaceutical company’s stock worth $1,277,000 after buying an additional 2,790 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Incyte by 5.4% in the first quarter. Public Employees Retirement Association of Colorado now owns 34,265 shares of the biopharmaceutical company’s stock worth $2,947,000 after buying an additional 1,763 shares during the last quarter. Finally, Shikiar Asset Management Inc. increased its position in Incyte by 46.3% in the first quarter. Shikiar Asset Management Inc. now owns 33,500 shares of the biopharmaceutical company’s stock worth $2,881,000 after buying an additional 10,600 shares during the last quarter. 92.20% of the stock is owned by institutional investors and hedge funds.
INCY has been the subject of a number of recent research reports. Royal Bank of Canada downgraded Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 target price for the company. in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. Argus raised their target price on Incyte from $83.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, February 25th. Barclays downgraded Incyte from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $90.00 to $82.00 in a research report on Friday, May 3rd. Zacks Investment Research lowered Incyte from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 23rd. Finally, UBS Group lowered Incyte from a “buy” rating to a “neutral” rating and raised their price target for the stock from $75.00 to $82.00 in a report on Wednesday, January 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Incyte presently has a consensus rating of “Hold” and an average price target of $92.07.
Incyte stock opened at $75.99 on Thursday. Incyte Co. has a one year low of $57.00 and a one year high of $88.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.22 and a quick ratio of 5.21. The firm has a market capitalization of $16.24 billion, a PE ratio of 92.67 and a beta of 1.31.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.29. Incyte had a return on equity of 13.28% and a net margin of 12.66%. The firm had revenue of $497.86 million during the quarter, compared to analyst estimates of $488.00 million. During the same period last year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 30.2% on a year-over-year basis. Analysts anticipate that Incyte Co. will post 1.78 EPS for the current fiscal year.
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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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