Altfest L J & Co. Inc. Takes Position in Incyte Co. (NASDAQ:INCY)

Altfest L J & Co. Inc. purchased a new position in Incyte Co. (NASDAQ:INCY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,617 shares of the biopharmaceutical company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. TD Asset Management Inc grew its stake in shares of Incyte by 5.2% in the second quarter. TD Asset Management Inc now owns 137,927 shares of the biopharmaceutical company’s stock worth $8,586,000 after acquiring an additional 6,819 shares during the last quarter. Merlin Capital LLC raised its holdings in Incyte by 15.5% in the second quarter. Merlin Capital LLC now owns 9,626 shares of the biopharmaceutical company’s stock worth $731,000 after buying an additional 1,294 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in Incyte by 178.8% in the second quarter. Banque Cantonale Vaudoise now owns 19,438 shares of the biopharmaceutical company’s stock worth $1,210,000 after buying an additional 12,465 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Incyte by 2.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,293 shares of the biopharmaceutical company’s stock worth $2,010,000 after buying an additional 921 shares in the last quarter. Finally, Andra AP fonden grew its holdings in shares of Incyte by 18.0% during the second quarter. Andra AP fonden now owns 150,200 shares of the biopharmaceutical company’s stock valued at $9,350,000 after buying an additional 22,900 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Incyte Stock Up 2.7 %

NASDAQ:INCY opened at $54.57 on Wednesday. The stock has a market capitalization of $12.23 billion, a P/E ratio of 28.87, a P/E/G ratio of 0.93 and a beta of 0.72. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $86.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 3.91. The company’s 50-day simple moving average is $57.48 and its 200-day simple moving average is $61.51.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INCY. BMO Capital Markets lowered their price objective on Incyte from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 2nd. Truist Financial reaffirmed a “buy” rating and set a $91.00 price objective on shares of Incyte in a research report on Thursday, September 21st. Stifel Nicolaus boosted their target price on Incyte from $73.00 to $76.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $93.00 price target on shares of Incyte in a report on Wednesday, August 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Incyte from $114.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.78.

About Incyte

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, Europe, Japan, and internationally. The company offers JAKAFI (ruxolitinib), for the treatment of adults with intermediate or high-risk myelofibrosis; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), 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.