Mackenzie Financial Corp Acquires 45,578 Shares of Incyte Co. (NASDAQ:INCY)

Mackenzie Financial Corp raised its holdings in Incyte Co. (NASDAQ:INCY) by 13.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 373,789 shares of the biopharmaceutical company’s stock after purchasing an additional 45,578 shares during the quarter. Mackenzie Financial Corp owned approximately 0.17% of Incyte worth $23,470,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Clear Street Markets LLC raised its position in shares of Incyte by 93.6% during the first quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 175 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Incyte during the fourth quarter worth $31,000. Parkside Financial Bank & Trust grew its stake in shares of Incyte by 91.0% during the first quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 213 shares during the period. Allworth Financial LP grew its stake in shares of Incyte by 40.0% during the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 229 shares during the period. Finally, Salem Investment Counselors Inc. grew its stake in shares of Incyte by 1,458.0% during the second quarter. Salem Investment Counselors Inc. now owns 779 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 729 shares during the period. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on INCY shares. Bank of America decreased their price objective on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. JMP Securities cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Truist Financial decreased their price objective on Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Finally, Jefferies Financial Group began coverage on Incyte in a research note on Friday, February 23rd. They issued a “buy” rating and a $81.00 target price for the company. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.07.

Incyte Stock Down 0.9 %

INCY stock opened at $52.72 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36. The stock has a market capitalization of $11.84 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.23 and a beta of 0.65. The business has a 50-day moving average of $57.65 and a 200-day moving average of $57.99. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $75.74.

Incyte (NASDAQ:INCY) 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 return on equity of 12.56% and a net margin of 16.17%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts anticipate that Incyte Co. will post 3.84 earnings per share for the current fiscal year.

Incyte Profile

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.