Country Trust Bank boosted its holdings in Incyte Co. (NASDAQ:INCY) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364,732 shares of the biopharmaceutical company’s stock after acquiring an additional 31,566 shares during the quarter. Incyte comprises about 1.4% of Country Trust Bank’s investment portfolio, making the stock its 21st biggest holding. Country Trust Bank owned 0.17% of Incyte worth $31,371,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. CX Institutional grew its stake in shares of Incyte by 1,496.7% in the 1st quarter. CX Institutional now owns 479 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 449 shares in the last quarter. Bremer Trust National Association bought a new stake in Incyte during the fourth quarter worth approximately $42,000. Bronfman E.L. Rothschild L.P. boosted its position in Incyte by 46.3% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 730 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 231 shares during the period. Machina Capital S.A.S. bought a new stake in Incyte during the fourth quarter worth approximately $48,000. Finally, Edge Wealth Management LLC bought a new stake in Incyte during the fourth quarter worth approximately $64,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.
A number of research analysts have recently commented on INCY shares. Royal Bank of Canada lowered Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 price target for the company. in a report on Wednesday, April 3rd. They noted that the move was a valuation call. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a research note on Thursday, January 10th. Argus upped their target price on Incyte from $83.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, February 25th. Zacks Investment Research lowered Incyte from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 23rd. Finally, Guggenheim upgraded Incyte from a “neutral” rating to a “buy” rating in a research note on Thursday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Incyte presently has an average rating of “Buy” and a consensus price target of $90.42.
Shares of INCY stock traded down $1.93 during trading hours on Wednesday, hitting $75.05. 17,599 shares of the company’s stock were exchanged, compared to its average volume of 1,221,867. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.29 and a current ratio of 4.31. The stock has a market capitalization of $16.44 billion, a PE ratio of 91.79 and a beta of 1.39. Incyte Co. has a 52 week low of $57.00 and a 52 week high of $88.83.
Incyte (NASDAQ:INCY) last announced its earnings results on Thursday, February 14th. The biopharmaceutical company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.25 by $0.15. The company had revenue of $528.40 million for the quarter, compared to analysts’ expectations of $485.72 million. Incyte had a return on equity of 6.17% and a net margin of 5.82%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 earnings per share. As a group, analysts forecast that Incyte Co. will post 1.4 earnings per share 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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