Pendal Group Ltd reduced its stake in Incyte Co. (NASDAQ: INCY – Get Rating) by 87.5% during the first quarter, according to its latest filing with the Securities and Exchange Commission. The company held 3,117 shares of the biopharmaceutical company after selling 21,901 shares during the quarter. Pendal Group Ltd’s holdings in Incyte were worth $247,000 at the end of the last quarter.
Other big investors have also been buying and selling shares of the company recently. Fiera Capital Corp purchased a new stake in Incyte stock in Q4 worth approximately $653,000. Diversified Trust Co increased its stake in Incyte by 96.8% during the 1st quarter. Diversified Trust Co now owns 5,723 shares of the biopharmaceutical company valued at $455,000 after acquiring 2,815 additional shares during the period. National Bank of Canada FI acquired a new stake in Incyte during the 4th quarter for a value of $44,000. The Illinois Municipal Retirement Fund increased its stake in Incyte by 30.9% during the fourth quarter. The Illinois Municipal Retirement Fund now owns 21,033 shares of the biopharmaceutical company valued at $1,544,000 after acquiring 4,961 additional shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in Incyte during the 4th quarter at a value of $5,774,000. 92.78% of the shares are currently held by institutional investors.
A number of equity research analysts have published reports on the stock. Morgan Stanley raised its price target on Incyte shares from $73.00 to $76.00 and gave the company an “equal weight” rating in a Wednesday, April 20 report. Stifel Nicolaus raised his price target on Incyte shares from $75.00 to $77.00 in a Tuesday, May 3 report. TheStreet upgraded Incyte’s shares from a ‘b’ rating to a ‘c’ rating in a Tuesday, May 3 report. Finally, StockNews.com upgraded Incyte’s shares from a “strong buy” rating to a “buy” rating in a Saturday, May 14 report. One analyst rated the stock with a sell rating, three gave the company a hold rating and six gave the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.09.
NASDAQ:INCY shares opened at $80.48 on Friday. Incyte Co. has a 52-week low of $61.91 and a 52-week high of $84.86. The company has a fifty-day moving average of $75.02 and a 200-day moving average of $74.53. The company has a market capitalization of $17.83 billion, a PE ratio of 19.16, a growth price-earnings ratio of 0.97 and a beta of 0.66. The company has a debt ratio of 0.01, a quick ratio of 3.67 and a current ratio of 3.71.
Incyte (NASDAQ:INCY – Get Rating) last announced its results on Tuesday, May 3. The biopharmaceutical company reported earnings per share (EPS) of $0.40 for the quarter, beating the consensus estimate of $0.34 by $0.06. Incyte had a net margin of 29.95% and a return on equity of 12.77%. The company posted revenue of $733.20 million in the quarter, compared to analyst estimates of $753.54 million. In the same period of the previous year, the company had earned earnings per share of $0.50. The company’s quarterly revenue increased by 21.3% compared to the same quarter last year. On average, sell-side analysts expect Incyte Co. to post EPS of 2.31 for the current fiscal year.
About Incyte (Get a rating)
Incyte Corporation, a biopharmaceutical company, is focused on the discovery, development and commercialization of proprietary therapeutic products in the United States and around the world. The company offers JAKAFI, a medicine for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that acts as an oncogenic inducer in various types of liquid and solid tumors; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and Philadelphia chromosome-positive acute lymphoblastic leukemia.
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