Pinebridge Investments L.P. Sells 14,189 Shares of Incyte Co. (NASDAQ:INCY)

Pinebridge Investments L.P. lessened its holdings in Incyte Co. (NASDAQ:INCYFree Report) by 22.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,668 shares of the biopharmaceutical company’s stock after selling 14,189 shares during the quarter. Pinebridge Investments L.P.’s holdings in Incyte were worth $3,056,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of INCY. Fisher Asset Management LLC grew its position in Incyte by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock valued at $2,773,000 after acquiring an additional 187 shares during the last quarter. Berger Financial Group Inc increased its position in Incyte by 0.4% during the 4th quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock worth $3,797,000 after purchasing an additional 212 shares in the last quarter. Allworth Financial LP lifted its stake in Incyte by 40.0% in the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 229 shares during the last quarter. Grandfield & Dodd LLC boosted its position 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 in the last quarter. Finally, MQS Management LLC grew its stake in shares of Incyte by 6.2% during the third quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company’s stock worth $322,000 after buying an additional 327 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 1.3 %

Incyte stock opened at $59.16 on Friday. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $13.28 billion, a PE ratio of 17.93, a PEG ratio of 1.26 and a beta of 0.74. The firm’s fifty day moving average is $55.23 and its 200 day moving average is $57.99. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $67.36.

Incyte (NASDAQ:INCYGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The company had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. As a group, sell-side analysts predict that Incyte Co. will post 3.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on INCY shares. BMO Capital Markets dropped their price target on Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Stifel Nicolaus lifted their price target on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Citigroup reduced their target price 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. Finally, Truist Financial reiterated a “buy” rating and set a $83.00 price target (down previously from $84.00) on shares of Incyte in a report on Wednesday, May 1st. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.69.

Get Our Latest Stock Report on INCY

About Incyte

(Free Report)

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.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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