Vanguard Personalized Indexing Management LLC Raises Position in Incyte Co. (NASDAQ:INCY)

Vanguard Personalized Indexing Management LLC boosted its stake in Incyte Co. (NASDAQ:INCY) by 30.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,961 shares of the biopharmaceutical company’s stock after buying an additional 4,649 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Incyte were worth $1,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. M&G Investment Management Ltd. lifted its stake in Incyte by 8.5% in the 4th quarter. M&G Investment Management Ltd. now owns 95,752 shares of the biopharmaceutical company’s stock valued at $6,032,000 after buying an additional 7,532 shares in the last quarter. Westpac Banking Corp raised its holdings in Incyte by 63.8% in the 4th quarter. Westpac Banking Corp now owns 3,102 shares of the biopharmaceutical company’s stock valued at $195,000 after acquiring an additional 1,208 shares during the last quarter. Partnership Wealth Management LLC acquired a new stake in Incyte in the 4th quarter valued at about $216,000. Ieq Capital LLC raised its holdings in Incyte by 10.1% in the 4th quarter. Ieq Capital LLC now owns 6,978 shares of the biopharmaceutical company’s stock valued at $438,000 after acquiring an additional 642 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Incyte by 7.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 950,626 shares of the biopharmaceutical company’s stock valued at $59,689,000 after acquiring an additional 62,380 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Up 0.4 %

Incyte stock opened at $57.10 on Friday. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $67.36. The stock’s fifty day simple moving average is $55.26 and its 200-day simple moving average is $57.62. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $12.82 billion, a P/E ratio of 17.30, a P/E/G ratio of 1.75 and a beta of 0.69.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup cut their price objective on shares of Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Oppenheimer cut their price objective on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $65.00 price target on shares of Incyte in a report on Monday, March 25th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Incyte has a consensus rating of “Moderate Buy” and a consensus target price of $74.93.

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.