Incyte Corporation $INCY Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its position in Incyte Corporation (NASDAQ:INCY) by 2.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,741,061 shares of the biopharmaceutical company’s stock after buying an additional 37,790 shares during the period. Pacer Advisors Inc.’s holdings in Incyte were worth $163,869,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of INCY. Geode Capital Management LLC lifted its holdings in Incyte by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock worth $491,500,000 after buying an additional 506,842 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Incyte by 13.2% in the 4th quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock valued at $343,105,000 after acquiring an additional 405,611 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Incyte by 13.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock valued at $263,246,000 after acquiring an additional 373,298 shares in the last quarter. Morgan Stanley lifted its stake in Incyte by 0.9% during the fourth quarter. Morgan Stanley now owns 2,663,823 shares of the biopharmaceutical company’s stock worth $263,106,000 after purchasing an additional 23,087 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Incyte by 7.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock worth $245,028,000 after purchasing an additional 161,405 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Incyte stock opened at $119.52 on Monday. The firm has a 50-day moving average price of $109.54 and a two-hundred day moving average price of $102.21. The firm has a market capitalization of $24.23 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 3.96 and a beta of 0.76. Incyte Corporation has a 52-week low of $73.81 and a 52-week high of $132.60.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.15 by $0.94. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.50 billion. Incyte had a net margin of 27.71% and a return on equity of 29.93%. Incyte’s revenue was up 37.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.57 earnings per share. Research analysts expect that Incyte Corporation will post 2.5 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on INCY. JPMorgan Chase & Co. boosted their target price on shares of Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Morgan Stanley set a $119.00 price target on shares of Incyte in a research report on Wednesday. TD Cowen reaffirmed a “hold” rating on shares of Incyte in a report on Tuesday, June 9th. HC Wainwright boosted their price objective on shares of Incyte from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus set a $145.00 price objective on shares of Incyte in a research note on Tuesday, July 28th. Eight research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $117.74.

Incyte 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.