E Fund Management Co. Ltd. Raises Stock Position in Incyte Co. (NASDAQ:INCY)

E Fund Management Co. Ltd. lifted its stake in Incyte Co. (NASDAQ:INCY) by 32.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,712 shares of the biopharmaceutical company’s stock after buying an additional 2,886 shares during the period. E Fund Management Co. Ltd.’s holdings in Incyte were worth $735,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ARK Investment Management LLC lifted its holdings in shares of Incyte by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 531,625 shares of the biopharmaceutical company’s stock valued at $33,381,000 after purchasing an additional 37,932 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Incyte by 29.3% in the 4th quarter. Russell Investments Group Ltd. now owns 963,090 shares of the biopharmaceutical company’s stock valued at $60,465,000 after acquiring an additional 217,979 shares during the period. Royal Bank of Canada raised its position in Incyte by 85.3% in the 3rd quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock valued at $57,021,000 after purchasing an additional 454,416 shares during the last quarter. RFG Advisory LLC purchased a new position in Incyte during the 4th quarter worth $206,000. Finally, Raymond James & Associates acquired a new position in Incyte in the fourth quarter valued at $2,291,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Trading Down 1.6 %

Incyte stock traded down $0.86 during trading on Wednesday, hitting $53.51. The company’s stock had a trading volume of 2,208,628 shares, compared to its average volume of 1,804,396. The stock’s fifty day moving average is $55.83 and its 200 day moving average is $57.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $67.36. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.35 and a beta of 0.69.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.09). The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Incyte had a return on equity of 12.83% and a net margin of 19.78%. Incyte’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. As a group, equities research analysts predict that Incyte Co. will post 3.54 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial reissued a “buy” rating and set a $83.00 price target (down previously from $84.00) on shares of Incyte in a report on Wednesday, May 1st. TD Cowen decreased their price target on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, Citigroup dropped their price target on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.93.

About Incyte

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.