Quantinno Capital Management LP Increases Stake in Incyte Corporation $INCY

Quantinno Capital Management LP lifted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 28.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 158,226 shares of the biopharmaceutical company’s stock after purchasing an additional 35,423 shares during the period. Quantinno Capital Management LP’s holdings in Incyte were worth $14,892,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in INCY. Elyxium Wealth LLC purchased a new position in Incyte in the fourth quarter worth approximately $28,000. Smithfield Trust Co increased its holdings in Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 162 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Incyte in the fourth quarter valued at $35,000. Atlas Capital Advisors Inc. acquired a new stake in Incyte in the fourth quarter valued at $35,000. Finally, Leonteq Securities AG acquired a new stake in Incyte in the fourth quarter valued at $35,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on INCY shares. JPMorgan Chase & Co. upped their price objective on Incyte from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Wall Street Zen lowered Incyte from a “buy” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets boosted their target price on Incyte from $112.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Sanford C. Bernstein assumed coverage on shares of Incyte in a research note on Thursday, May 21st. They issued a “market perform” rating and a $99.00 price target on the stock. Finally, Citigroup reissued a “market perform” rating on shares of Incyte in a report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $117.74.

Incyte Stock Performance

INCY opened at $119.52 on Monday. The business’s 50-day simple moving average is $109.54 and its 200-day simple moving average is $102.21. Incyte Corporation has a one year low of $73.81 and a one year high of $132.60. The stock has a market capitalization of $24.23 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 3.96 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.94. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the firm earned $1.57 EPS. The business’s revenue was up 37.7% on a year-over-year basis. On average, equities research analysts forecast that Incyte Corporation will post 2.5 EPS for the current fiscal year.

About Incyte

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.