Incyte Co. (NASDAQ:INCY) Position Raised by Federated Hermes Inc.

Federated Hermes Inc. grew its position in shares of Incyte Co. (NASDAQ:INCY) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 891,031 shares of the biopharmaceutical company’s stock after acquiring an additional 26,321 shares during the quarter. Federated Hermes Inc.’s holdings in Incyte were worth $55,948,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of INCY. Royal Bank of Canada increased its position in Incyte by 117.4% in the 1st quarter. Royal Bank of Canada now owns 7,682,752 shares of the biopharmaceutical company’s stock valued at $610,164,000 after acquiring an additional 4,148,559 shares during the period. Norges Bank acquired a new position in shares of Incyte during the fourth quarter valued at $125,169,000. Pacer Advisors Inc. raised its stake in shares of Incyte by 2,858.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock valued at $64,409,000 after purchasing an additional 991,110 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Incyte by 585.8% in the third quarter. Los Angeles Capital Management LLC now owns 1,145,362 shares of the biopharmaceutical company’s stock worth $66,168,000 after purchasing an additional 978,342 shares during the period. Finally, Acadian Asset Management LLC grew its position in Incyte by 56.6% in the 3rd quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock valued at $155,053,000 after buying an additional 970,668 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

NASDAQ INCY opened at $52.35 on Friday. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $75.74. The stock’s 50-day moving average price is $57.46 and its two-hundred day moving average price is $57.92. The company has a market cap of $11.75 billion, a PE ratio of 19.75, a PEG ratio of 1.22 and a beta of 0.65. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS 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 firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the company posted $0.44 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that Incyte Co. will post 3.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Citigroup dropped their price target on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Stifel Nicolaus boosted their target price on Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. JMP Securities lowered Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Jefferies Financial Group started coverage on Incyte in a research note on Friday, February 23rd. They issued a “buy” rating and a $81.00 price objective on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.07.

Incyte Company 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.