AXS Investments LLC Purchases 675 Shares of Incyte Co. (NASDAQ:INCY)

AXS Investments LLC raised its position in shares of Incyte Co. (NASDAQ:INCY) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,690 shares of the biopharmaceutical company’s stock after purchasing an additional 675 shares during the period. AXS Investments LLC’s holdings in Incyte were worth $294,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Incyte by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,159,419 shares of the biopharmaceutical company’s stock worth $1,280,150,000 after buying an additional 289,882 shares during the period. Invesco Ltd. increased its holdings in shares of Incyte by 3.2% in the third quarter. Invesco Ltd. now owns 3,922,045 shares of the biopharmaceutical company’s stock worth $226,577,000 after buying an additional 120,838 shares during the period. LSV Asset Management increased its holdings in shares of Incyte by 119.6% in the fourth quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock worth $169,020,000 after buying an additional 1,465,792 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Incyte by 56.6% in the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock worth $155,053,000 after buying an additional 970,668 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Incyte by 5.9% in the third quarter. Northern Trust Corp now owns 2,127,688 shares of the biopharmaceutical company’s stock worth $122,917,000 after buying an additional 119,389 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Incyte stock opened at $57.31 on Friday. The stock’s 50 day simple moving average is $55.09 and its two-hundred day simple moving average is $57.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.76 and a beta of 0.69. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $67.36.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.31). The firm had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. As a group, analysts expect that Incyte Co. will post 3.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America decreased their price objective on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $65.00 price objective on shares of Incyte in a report on Monday, March 25th. BMO Capital Markets cut their target price on Incyte from $56.00 to $52.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 1st. Truist Financial reissued a “buy” rating and issued a $83.00 target price (down from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Finally, Citigroup cut their target price on Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.