Machina Capital S.A.S. Sells 4,766 Shares of Incyte Co. (NASDAQ:INCY)

Machina Capital S.A.S. reduced its position in shares of Incyte Co. (NASDAQ:INCY) by 38.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,715 shares of the biopharmaceutical company’s stock after selling 4,766 shares during the period. Machina Capital S.A.S.’s holdings in Incyte were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its holdings in Incyte by 12.3% in the third quarter. Commonwealth Equity Services LLC now owns 20,009 shares of the biopharmaceutical company’s stock worth $1,156,000 after buying an additional 2,197 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Incyte by 100.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,097 shares of the biopharmaceutical company’s stock valued at $1,450,000 after purchasing an additional 12,576 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Incyte by 95.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 250,077 shares of the biopharmaceutical company’s stock worth $14,447,000 after purchasing an additional 122,045 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Incyte by 10.7% in the third quarter. Mackenzie Financial Corp now owns 328,211 shares of the biopharmaceutical company’s stock worth $19,220,000 after buying an additional 31,750 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Incyte by 4.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,708 shares of the biopharmaceutical company’s stock valued at $3,218,000 after buying an additional 2,554 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 0.6 %

Shares of INCY traded up $0.32 during mid-day trading on Monday, hitting $54.08. 2,016,540 shares of the company traded hands, compared to its average volume of 1,798,635. The business has a 50 day moving average of $55.97 and a 200 day moving average of $57.55. The company has a market capitalization of $12.14 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.35 and a beta of 0.69. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $67.36.

Incyte (NASDAQ:INCY) last posted 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 company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Incyte had a return on equity of 12.83% and a net margin of 19.78%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 EPS. Equities research analysts anticipate that Incyte Co. will post 3.54 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Jefferies Financial Group initiated coverage on shares of Incyte in a research report on Friday, February 23rd. They set a “buy” rating and a $81.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $83.00 target price (down previously from $84.00) on shares of Incyte in a report on Wednesday, May 1st. TD Cowen lowered their price objective on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, JMP Securities cut Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.93.

Incyte 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.