Tobam Reduces Stock Position in Incyte Co. (NASDAQ:INCY)

Tobam cut its stake in Incyte Co. (NASDAQ:INCY) by 26.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,033 shares of the biopharmaceutical company’s stock after selling 2,930 shares during the period. Tobam’s holdings in Incyte were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Quintet Private Bank Europe S.A. purchased a new position in shares of Incyte during the fourth quarter worth $26,000. Raiffeisen Bank International AG purchased a new position in shares of Incyte during the fourth quarter worth $34,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Incyte during the fourth quarter worth $42,000. NBC Securities Inc. boosted its position in shares of Incyte by 88,200.0% during the first quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 882 shares during the period. Finally, Huntington National Bank boosted its position in shares of Incyte by 40.7% during the fourth quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 270 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INCY has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Incyte from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a research report on Tuesday, March 18th. Truist Financial increased their price objective on Incyte from $72.00 to $73.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th. Wall Street Zen upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their price objective on Incyte from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $72.53.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $69.22 on Friday. The business’s 50 day simple moving average is $62.09 and its 200-day simple moving average is $67.14. The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of 256.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. Incyte Co. has a 12 month low of $53.56 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same quarter in the prior year, the company earned $0.64 EPS. Incyte’s revenue was up 19.5% on a year-over-year basis. As a group, equities analysts forecast that Incyte Co. will post 4.86 earnings per share for the current fiscal 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.