VCI Wealth Management LLC lifted its position in Incyte Corporation (NASDAQ:INCY – Free Report) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,093 shares of the biopharmaceutical company’s stock after purchasing an additional 1,395 shares during the period. VCI Wealth Management LLC’s holdings in Incyte were worth $892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of Incyte in the 1st quarter valued at $26,000. Hilltop National Bank acquired a new position in Incyte during the second quarter worth $37,000. SVB Wealth LLC acquired a new position in Incyte during the first quarter worth $39,000. Geneos Wealth Management Inc. raised its position in Incyte by 350.0% during the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 588 shares during the period. Finally, WPG Advisers LLC acquired a new position in Incyte during the first quarter worth $47,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
INCY has been the subject of a number of research analyst reports. BMO Capital Markets restated an “underperform” rating and set a $60.00 price objective (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Zacks Research upgraded shares of Incyte from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Citigroup upped their price objective on shares of Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Bank of America upped their price objective on shares of Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $84.79.
Incyte Price Performance
Incyte stock opened at $86.17 on Tuesday. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $92.86. The firm has a market capitalization of $16.83 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 0.68 and a beta of 0.73. The company has a fifty day simple moving average of $85.34 and a 200-day simple moving average of $72.79. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01.
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.
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