Incyte Co. (NASDAQ:INCY) Stock Holdings Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in Incyte Co. (NASDAQ:INCYGet Rating) by 22.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,997 shares of the biopharmaceutical company’s stock after acquiring an additional 2,419 shares during the period. Envestnet Asset Management Inc.’s holdings in Incyte were worth $987,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Clear Street Markets LLC increased its position in shares of Incyte by 410.4% in the second quarter. Clear Street Markets LLC now owns 393 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 316 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Incyte by 91.0% during the first quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 213 shares in the last quarter. CX Institutional purchased a new position in Incyte during the second quarter valued at approximately $39,000. Newfound Research LLC purchased a new position in Incyte during the second quarter valued at approximately $67,000. Finally, EverSource Wealth Advisors LLC grew its position in Incyte by 333.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,092 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 840 shares in the last quarter. 94.74% of the stock is owned by hedge funds and other institutional investors.

Incyte Price Performance

NASDAQ INCY opened at $77.76 on Friday. The company has a 50 day moving average price of $72.00 and a two-hundred day moving average price of $73.81. The company has a quick ratio of 3.75, a current ratio of 3.80 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12-month low of $63.40 and a 12-month high of $84.86. The stock has a market capitalization of $17.30 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.64 and a beta of 0.70.

Wall Street Analyst Weigh In

INCY has been the topic of a number of research analyst reports. TheStreet downgraded shares of Incyte from a “b” rating to a “c+” rating in a research report on Monday, August 22nd. Wells Fargo & Company lowered their price objective on shares of Incyte from $76.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 18th. Oppenheimer lowered their price objective on shares of Incyte from $109.00 to $98.00 in a research report on Wednesday, August 3rd. Guggenheim cut shares of Incyte to a “neutral” rating in a research note on Tuesday, August 9th. Finally, Morgan Stanley lifted their target price on shares of Incyte from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.20.

About Incyte

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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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