Commerce Bank Takes Position in Incyte Co. (INCY)
Commerce Bank bought a new stake in Incyte Co. (NASDAQ:INCY) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,472 shares of the biopharmaceutical company’s stock, valued at approximately $213,000.
Several other large investors have also recently bought and sold shares of INCY. CX Institutional raised its position in Incyte by 1,496.7% in the 1st quarter. CX Institutional now owns 479 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 449 shares during the last quarter. Financial Gravity Wealth Inc. bought a new position in Incyte in the 1st quarter worth approximately $51,000. Bremer Trust National Association bought a new position in Incyte in the 4th quarter worth approximately $42,000. Bronfman E.L. Rothschild L.P. raised its position in Incyte by 46.3% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 730 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 231 shares during the last quarter. Finally, Machina Capital S.A.S. bought a new position in Incyte in the 4th quarter worth approximately $48,000. Institutional investors own 91.17% of the company’s stock.
Several research analysts recently weighed in on INCY shares. SunTrust Banks boosted their price objective on shares of Incyte to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 5th. JMP Securities restated a “hold” rating on shares of Incyte in a research report on Monday, February 11th. TheStreet upgraded shares of Incyte from a “d+” rating to a “c-” rating in a research report on Friday, February 8th. Royal Bank of Canada boosted their price objective on shares of Incyte to $89.00 and gave the stock an “outperform” rating in a research report on Friday, February 15th. Finally, Raymond James set a $100.00 price objective on shares of Incyte and gave the stock a “buy” rating in a research report on Friday, February 15th. Thirteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $91.07.
Shares of Incyte stock opened at $78.63 on Monday. The firm has a market cap of $16.86 billion, a price-to-earnings ratio of 68.37 and a beta of 1.19. Incyte Co. has a 52 week low of $57.00 and a 52 week high of $88.83. 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 issued its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.33 by $0.29. The company had revenue of $497.86 million during the quarter, compared to analysts’ expectations of $488.00 million. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The business’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. As a group, sell-side analysts forecast that Incyte Co. will post 1.78 EPS for the current year.
Incyte Company Profile
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.
Featured Article: Bar Chart
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCY).
Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.