Pacer Advisors Inc. Increases Position in Incyte Co. (NASDAQ:INCY)

Pacer Advisors Inc. increased its stake in Incyte Co. (NASDAQ:INCYFree Report) by 2,858.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,025,784 shares of the biopharmaceutical company’s stock after purchasing an additional 991,110 shares during the quarter. Pacer Advisors Inc. owned 0.46% of Incyte worth $64,409,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Raymond James & Associates purchased a new stake in shares of Incyte during the fourth quarter worth about $2,291,000. SG Americas Securities LLC grew its holdings in shares of Incyte by 345.9% during the fourth quarter. SG Americas Securities LLC now owns 37,791 shares of the biopharmaceutical company’s stock worth $2,373,000 after buying an additional 29,315 shares in the last quarter. CX Institutional purchased a new stake in shares of Incyte during the fourth quarter worth about $212,000. Davis Investment Partners LLC grew its holdings in shares of Incyte by 3.1% during the fourth quarter. Davis Investment Partners LLC now owns 12,816 shares of the biopharmaceutical company’s stock worth $853,000 after buying an additional 386 shares in the last quarter. Finally, Moody National Bank Trust Division purchased a new stake in shares of Incyte during the fourth quarter worth about $873,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

NASDAQ:INCY opened at $56.98 on Monday. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $76.04. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $59.42 and a 200-day moving average of $58.68. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 1.22 and a beta of 0.65.

Incyte (NASDAQ:INCYGet Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the business posted $0.44 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts forecast that Incyte Co. will post 3.85 earnings per share for the current fiscal year.

Insider Activity

In other Incyte news, EVP Vijay K. Iyengar sold 657 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $65.00, for a total transaction of $42,705.00. Following the completion of the sale, the executive vice president now directly owns 43,412 shares of the company’s stock, valued at $2,821,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on INCY. Bank of America decreased their target price on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. JMP Securities downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Stifel Nicolaus upped their price target on shares of Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. SVB Leerink raised shares of Incyte from a “market perform” rating to an “outperform” rating and set a $78.00 target price on the stock in a report on Wednesday, December 13th. Finally, Citigroup dropped their target price on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Incyte currently has an average rating of “Moderate Buy” and an average target price of $76.07.

Check Out Our Latest Analysis on INCY

Incyte Profile

(Free Report)

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 and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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