11,200 Shares in Incyte Co. (NASDAQ:INCY) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,200 shares of the biopharmaceutical company’s stock, valued at approximately $703,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in shares of Incyte by 40.0% during the 4th 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 last quarter. MQS Management LLC raised its stake in Incyte by 6.2% in the third quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company’s stock valued at $322,000 after buying an additional 327 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Incyte by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 89,217 shares of the biopharmaceutical company’s stock valued at $5,154,000 after buying an additional 335 shares during the last quarter. Covestor Ltd raised its stake in Incyte by 28.8% in the third quarter. Covestor Ltd now owns 1,606 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 359 shares during the last quarter. Finally, Toroso Investments LLC raised its stake in Incyte by 2.6% in the third quarter. Toroso Investments LLC now owns 14,977 shares of the biopharmaceutical company’s stock valued at $865,000 after buying an additional 377 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INCY has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Incyte in a research note on Friday, February 23rd. They issued a “buy” rating and a $81.00 price target for the company. JMP Securities cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Cantor Fitzgerald began coverage on Incyte in a research note on Tuesday, April 23rd. They issued a “neutral” rating for the company. William Blair restated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Finally, Citigroup reduced their price objective on Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Nine 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 company’s stock. According to data from MarketBeat, Incyte presently has an average rating of “Moderate Buy” and a consensus price target of $75.50.

Incyte Stock Up 1.0 %

Incyte stock opened at $51.68 on Friday. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.18 and a beta of 0.65. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $75.74. The business’s 50-day moving average price is $56.78 and its 200 day moving average price is $57.70. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01.

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