Grandfield & Dodd LLC Grows Stake in Incyte Co. (NASDAQ:INCY)

Grandfield & Dodd LLC raised its holdings in shares of Incyte Co. (NASDAQ:INCY) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,390 shares of the biopharmaceutical company’s stock after buying an additional 319 shares during the quarter. Grandfield & Dodd LLC’s holdings in Incyte were worth $1,155,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

INCY has been the subject of a number of recent analyst reports. JMP Securities lowered Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $65.00 price target on shares of Incyte in a report on Monday, March 25th. BMO Capital Markets upped their price objective on shares of Incyte from $58.00 to $64.00 and gave the stock a “market perform” rating in a report on Wednesday, February 14th. Bank of America cut their target price 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. Finally, Truist Financial decreased their price target on shares of Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.07.

Incyte Stock Down 0.9 %

Shares of NASDAQ:INCY opened at $52.35 on Friday. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $75.74. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.21 and a beta of 0.65. The stock has a fifty day simple moving average of $57.46 and a two-hundred day simple moving average of $57.91. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, research analysts anticipate that Incyte Co. will post 3.85 earnings per share for the current fiscal year.

About Incyte

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.