Allspring Global Investments Holdings LLC Makes New Investment in Incyte Co. (NASDAQ:INCY)
Allspring Global Investments Holdings LLC acquired a new position in Incyte Co. (NASDAQ:INCY – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 109,461 shares of the biopharmaceutical company’s stock, valued at approximately $8,034,000.
Several other large investors have also modified their holdings of the business. IndexIQ Advisors LLC boosted its stake in shares of Incyte by 5.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 3,222 shares of the biopharmaceutical company’s stock worth $222,000 after purchasing an additional 157 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in Incyte by 6.0% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,823 shares of the biopharmaceutical company’s stock valued at $194,000 after buying an additional 160 shares during the period. National Asset Management Inc. boosted its position in Incyte by 5.3% in the 4th quarter. National Asset Management Inc. now owns 3,255 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 164 shares during the period. Ieq Capital LLC boosted its position in Incyte by 5.1% in the 3rd quarter. Ieq Capital LLC now owns 3,394 shares of the biopharmaceutical company’s stock valued at $234,000 after buying an additional 165 shares during the period. Finally, State of Michigan Retirement System raised its holdings in shares of Incyte by 0.4% in the 4th quarter. State of Michigan Retirement System now owns 47,304 shares of the biopharmaceutical company’s stock valued at $3,472,000 after purchasing an additional 200 shares in the last quarter. 91.33% of the stock is owned by institutional investors and hedge funds.
NASDAQ:INCY opened at $83.18 on Monday. Incyte Co. has a 12 month low of $61.91 and a 12 month high of $88.26. The stock has a 50 day moving average of $73.33 and a two-hundred day moving average of $70.54. The company has a current ratio of 3.65, a quick ratio of 3.62 and a debt-to-equity ratio of 0.01. The firm has a market cap of $18.41 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.73.
Incyte (NASDAQ:INCY – Get Rating) last released its quarterly earnings data on Tuesday, February 8th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.72). Incyte had a net margin of 31.76% and a return on equity of 14.66%. The business had revenue of $862.50 million during the quarter, compared to analyst estimates of $813.38 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. On average, research analysts forecast that Incyte Co. will post 2.52 earnings per share for the current year.
Several research firms have recently commented on INCY. Guggenheim reduced their price target on shares of Incyte from $118.00 to $104.00 in a report on Monday, January 3rd. SVB Leerink lowered shares of Incyte from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $60.00 to $56.00 in a report on Wednesday, February 9th. Royal Bank of Canada upgraded shares of Incyte from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $78.00 to $90.00 in a report on Tuesday, January 18th. Morgan Stanley reduced their price target on shares of Incyte from $77.00 to $76.00 and set an “equal weight” rating for the company in a report on Wednesday, February 2nd. Finally, JMP Securities reiterated a “buy” rating and set a $108.00 price objective on shares of Incyte in a research note on Friday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $87.82.
In other news, Director Bros. Advisors Lp Baker bought 99,800 shares of the stock in a transaction on Tuesday, February 22nd. The stock was purchased at an average cost of $68.07 per share, with a total value of $6,793,386.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Elliott Dickinson sold 7,375 shares of the business’s stock in a transaction on Monday, January 31st. The shares were sold at an average price of $74.19, for a total transaction of $547,151.25. The disclosure for this sale can be found here. Over the last quarter, insiders bought 711,335 shares of company stock worth $49,689,821. Insiders own 15.80% of the company’s stock.
Incyte Company Profile (Get Rating)
Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late stage development, and commercialized products such as JAKAFI (ruxolitinib), and ICLUSIG (ponatinib).
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