Sei Investments Co. Has $67.25 Million Stake in Incyte Corporation $INCY

Sei Investments Co. raised its stake in Incyte Corporation (NASDAQ:INCY) by 7.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 714,558 shares of the biopharmaceutical company’s stock after acquiring an additional 51,112 shares during the period. Sei Investments Co. owned about 0.36% of Incyte worth $67,254,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of INCY. Elyxium Wealth LLC acquired a new stake in shares of Incyte during the 4th quarter worth about $28,000. Smithfield Trust Co lifted its holdings in Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Incyte in the second quarter valued at about $32,000. CYBER HORNET ETFs LLC acquired a new position in Incyte in the second quarter valued at about $33,000. Finally, Leonteq Securities AG bought a new stake in Incyte during the fourth quarter worth about $35,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of Incyte stock opened at $117.67 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The firm has a 50 day simple moving average of $106.82 and a 200 day simple moving average of $101.63. Incyte Corporation has a fifty-two week low of $69.69 and a fifty-two week high of $119.60. The firm has a market cap of $23.51 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.05 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.43. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 EPS. Sell-side analysts predict that Incyte Corporation will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on INCY shares. BMO Capital Markets raised their price objective on shares of Incyte from $94.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Stifel Nicolaus set a $123.00 target price on Incyte in a report on Tuesday, June 9th. Oppenheimer restated a “market perform” rating and set a $107.00 price target on shares of Incyte in a research report on Monday, June 8th. Morgan Stanley raised their price target on Incyte from $103.00 to $104.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Sanford C. Bernstein started coverage on Incyte in a report on Thursday, May 21st. They set a “market perform” rating and a $99.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $111.10.

Incyte Company Profile

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.