Enterprise Financial Services Corp raised its holdings in shares of Incyte Co. (NASDAQ:INCY) by 1,199.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,481 shares of the biopharmaceutical company’s stock after purchasing an additional 1,367 shares during the quarter. Enterprise Financial Services Corp’s holdings in Incyte were worth $127,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. CX Institutional increased its stake in Incyte by 1,496.7% during the first quarter. CX Institutional now owns 479 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 449 shares during the last quarter. Bremer Trust National Association purchased a new stake in Incyte during the fourth quarter worth $42,000. Bronfman E.L. Rothschild L.P. lifted its holdings in Incyte by 46.3% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 730 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 231 shares during the period. Machina Capital S.A.S. acquired a new position in shares of Incyte during the fourth quarter worth $48,000. Finally, Financial Gravity Wealth Inc. acquired a new position in shares of Incyte during the first quarter worth $51,000. 92.20% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ INCY traded up $0.34 on Wednesday, hitting $79.02. The company’s stock had a trading volume of 826,900 shares, compared to its average volume of 1,439,738. Incyte Co. has a 12-month low of $57.00 and a 12-month high of $88.83. The company has a market capitalization of $16.78 billion, a PE ratio of 96.37 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.22 and a quick ratio of 5.21.
Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.29. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The company had revenue of $497.86 million for the quarter, compared to the consensus estimate of $488.00 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, analysts forecast that Incyte Co. will post 1.78 EPS for the current fiscal year.
Several equities analysts recently issued reports on the company. Argus upped their target price on Incyte from $83.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, February 25th. Royal Bank of Canada lowered shares of Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 target price on the stock. in a research note on Wednesday, April 3rd. They noted that the move was a valuation call. BidaskClub lowered shares of Incyte from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Oppenheimer set a $85.00 price target on shares of Incyte and gave the stock a “hold” rating in a report on Sunday, April 7th. Finally, Raymond James set a $100.00 target price on shares of Incyte and gave the company a “buy” rating in a report on Friday, February 15th. Thirteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $91.07.
In related news, EVP Paula J. Swain sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $87.01, for a total transaction of $870,100.00. Following the transaction, the executive vice president now owns 38,295 shares of the company’s stock, valued at $3,332,047.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.10% of the company’s stock.
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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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