Quest Partners LLC Invests $564,000 in Incyte Co. (NASDAQ:INCY)

Quest Partners LLC acquired a new position in Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,987 shares of the biopharmaceutical company’s stock, valued at approximately $564,000.

A number of other institutional investors and hedge funds have also modified their holdings of INCY. Norges Bank acquired a new stake in shares of Incyte in the fourth quarter worth $123,253,000. LSV Asset Management increased its position in Incyte by 119.6% during the fourth quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock worth $169,020,000 after acquiring an additional 1,465,792 shares during the period. Pacer Advisors Inc. increased its position in Incyte by 2,858.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock worth $64,409,000 after acquiring an additional 991,110 shares during the period. Los Angeles Capital Management LLC increased its position in Incyte by 585.8% during the third quarter. Los Angeles Capital Management LLC now owns 1,145,362 shares of the biopharmaceutical company’s stock worth $66,168,000 after acquiring an additional 978,342 shares during the period. Finally, Acadian Asset Management LLC increased its position in Incyte by 56.6% during the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock worth $155,053,000 after acquiring an additional 970,668 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Up 1.4 %

Shares of NASDAQ INCY opened at $58.20 on Thursday. The firm’s 50-day simple moving average is $55.14 and its 200 day simple moving average is $57.69. The company has a market cap of $13.07 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.76 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 12-month low of $50.27 and a 12-month high of $67.36.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The company had revenue of $880.89 million for the quarter, compared to analyst estimates of $935.85 million. On average, research analysts expect that Incyte Co. will post 3.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INCY shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Incyte in a research report on Thursday. They set a “hold” rating and a $55.00 target price on the stock. Cantor Fitzgerald initiated coverage on shares of Incyte in a report on Tuesday, April 23rd. They issued a “neutral” rating on the stock. Citigroup lowered their price target on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. William Blair reissued an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Finally, BMO Capital Markets lowered their price target on shares of Incyte from $56.00 to $52.00 and set a “market perform” rating on the stock in a report on Wednesday, May 1st. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and an average price target of $73.69.

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.