Stevens Capital Management LP Sells 14,322 Shares of Incyte Co. (NASDAQ:INCY)

Stevens Capital Management LP cut its stake in shares of Incyte Co. (NASDAQ:INCY) by 58.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,239 shares of the biopharmaceutical company’s stock after selling 14,322 shares during the period. Stevens Capital Management LP’s holdings in Incyte were worth $643,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Incyte by 40.0% during the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 229 shares during the last quarter. Grandfield & Dodd LLC boosted its holdings in Incyte by 1.8% in the 4th quarter. Grandfield & Dodd LLC now owns 18,390 shares of the biopharmaceutical company’s stock worth $1,155,000 after buying an additional 319 shares during the period. MQS Management LLC lifted its stake in Incyte by 6.2% in the 3rd quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company’s stock worth $322,000 after purchasing an additional 327 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in Incyte by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 89,217 shares of the biopharmaceutical company’s stock worth $5,154,000 after purchasing an additional 335 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Incyte by 28.8% during the 3rd quarter. Covestor Ltd now owns 1,606 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 359 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on INCY. Stifel Nicolaus upped their target price on shares of Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Citigroup cut 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. Bank of America cut their price target on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. BMO Capital Markets upped their price target on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. Finally, JMP Securities downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.50.

Incyte Stock Down 1.1 %

NASDAQ:INCY traded down $0.56 during midday trading on Thursday, reaching $51.18. 1,771,930 shares of the stock traded hands, compared to its average volume of 1,725,502. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $75.74. The business has a 50-day moving average of $57.06 and a two-hundred day moving average of $57.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55. The stock has a market capitalization of $11.49 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.19 and a beta of 0.65.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the company earned $0.44 EPS. The company’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Incyte Co. will post 3.85 earnings per share for the current fiscal year.

Incyte Profile

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.