Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Incyte Co. (NASDAQ:INCY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Incyte Co. (NASDAQ:INCY) by 34.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 335,735 shares of the biopharmaceutical company’s stock after purchasing an additional 85,658 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.15% of Incyte worth $21,081,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. D.A. Davidson & CO. boosted its holdings in Incyte by 4.8% in the first quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 150 shares during the last quarter. Clear Street Markets LLC lifted its holdings in Incyte by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 175 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Incyte by 2.8% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,616 shares of the biopharmaceutical company’s stock worth $441,000 after buying an additional 183 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Incyte by 1.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company’s stock worth $964,000 after buying an additional 195 shares during the last quarter. Finally, Gabelli Funds LLC lifted its holdings in Incyte by 1.2% during the 1st quarter. Gabelli Funds LLC now owns 16,500 shares of the biopharmaceutical company’s stock worth $1,310,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 0.9 %

INCY opened at $52.72 on Thursday. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $75.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36. The stock has a market cap of $11.84 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.23 and a beta of 0.65. The stock’s 50 day moving average price is $57.65 and its 200 day moving average price is $57.99.

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). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Incyte Co. will post 3.84 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on INCY. Stifel Nicolaus increased 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. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Truist Financial reduced their target price on Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Citigroup dropped their price target on Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. Eight investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.