Larson Financial Group LLC Increases Stake in Incyte Co. (NASDAQ:INCY)

Larson Financial Group LLC boosted its holdings in Incyte Co. (NASDAQ:INCY) by 4,220.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 432 shares of the biopharmaceutical company’s stock after buying an additional 422 shares during the period. Larson Financial Group LLC’s holdings in Incyte were worth $27,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Signaturefd LLC raised its holdings in Incyte by 17.2% in the fourth quarter. Signaturefd LLC now owns 2,880 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 423 shares during the period. Lindbrook Capital LLC raised its holdings in Incyte by 118.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,566 shares of the biopharmaceutical company’s stock valued at $98,000 after buying an additional 848 shares during the period. Grandfield & Dodd LLC raised its holdings in Incyte by 1.8% in the fourth quarter. Grandfield & Dodd LLC now owns 18,390 shares of the biopharmaceutical company’s stock valued at $1,155,000 after buying an additional 319 shares during the period. abrdn plc raised its holdings in Incyte by 112.7% in the fourth quarter. abrdn plc now owns 146,427 shares of the biopharmaceutical company’s stock valued at $9,194,000 after buying an additional 77,574 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Incyte by 3.0% in the fourth quarter. Federated Hermes Inc. now owns 891,031 shares of the biopharmaceutical company’s stock valued at $55,948,000 after buying an additional 26,321 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on INCY. Citigroup cut their price target 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. Bank of America dropped their price objective on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. BMO Capital Markets lifted their price objective on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Incyte presently has an average rating of “Moderate Buy” and a consensus price target of $75.50.

Incyte Stock Up 1.0 %

INCY stock opened at $51.68 on Friday. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $75.74. 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 market capitalization of $11.60 billion, a P/E ratio of 19.50, a PEG ratio of 1.18 and a beta of 0.65. The firm has a 50 day simple moving average of $56.78 and a 200-day simple moving average of $57.70.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business posted $0.44 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Incyte Co. will post 3.84 earnings per share for the current fiscal year.

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.