Dorsey Wright & Associates Takes $1.20 Million Position in Incyte Corporation $INCY

Dorsey Wright & Associates bought a new stake in Incyte Corporation (NASDAQ:INCY) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,735 shares of the biopharmaceutical company’s stock, valued at approximately $1,199,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. California Public Employees Retirement System increased its holdings in Incyte by 0.7% during the 1st quarter. California Public Employees Retirement System now owns 483,336 shares of the biopharmaceutical company’s stock worth $45,492,000 after purchasing an additional 3,155 shares during the period. Assetmark Inc. raised its position in Incyte by 121.8% in the 1st quarter. Assetmark Inc. now owns 42,597 shares of the biopharmaceutical company’s stock valued at $4,009,000 after purchasing an additional 23,395 shares in the last quarter. Gallacher Capital Management LLC purchased a new position in shares of Incyte in the 1st quarter valued at about $231,000. Financiere des Professionnels Fonds d investissement inc. boosted its stake in shares of Incyte by 6.2% in the 1st quarter. Financiere des Professionnels Fonds d investissement inc. now owns 20,276 shares of the biopharmaceutical company’s stock valued at $1,908,000 after buying an additional 1,185 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Incyte by 11.1% in the 1st quarter. Bessemer Group Inc. now owns 7,932 shares of the biopharmaceutical company’s stock valued at $748,000 after buying an additional 792 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on INCY shares. Royal Bank Of Canada upped their target price on shares of Incyte from $95.00 to $99.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Truist Financial lifted their price target on shares of Incyte from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Stifel Nicolaus set a $123.00 price target on shares of Incyte in a report on Tuesday, June 9th. TD Cowen reissued a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Incyte in a research report on Monday, June 29th. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $109.95.

Incyte Trading Up 0.5%

NASDAQ:INCY opened at $117.25 on Friday. The stock has a 50-day simple moving average of $104.99 and a 200-day simple moving average of $101.03. The stock has a market cap of $23.42 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.06 and a beta of 0.76. Incyte Corporation has a 1 year low of $67.17 and a 1 year high of $119.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, analysts anticipate that Incyte Corporation will post 6.61 earnings per share 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.