Cognios Beta Neutral Large Cap Fund LP Increases Stock Position in Incyte Co. (NASDAQ:INCY)

Cognios Beta Neutral Large Cap Fund LP boosted its holdings in Incyte Co. (NASDAQ:INCY) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,318 shares of the biopharmaceutical company’s stock after buying an additional 468 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Incyte were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in Incyte by 2,858.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock valued at $64,409,000 after purchasing an additional 991,110 shares during the period. Los Angeles Capital Management LLC grew its position in Incyte by 585.8% during the third quarter. Los Angeles Capital Management LLC now owns 1,145,362 shares of the biopharmaceutical company’s stock worth $66,168,000 after buying an additional 978,342 shares in the last quarter. Acadian Asset Management LLC increased its stake in Incyte by 56.6% in the 3rd quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock worth $155,053,000 after acquiring an additional 970,668 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Incyte by 145.2% in the 3rd quarter. Federated Hermes Inc. now owns 864,710 shares of the biopharmaceutical company’s stock valued at $49,954,000 after acquiring an additional 512,083 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Incyte by 85.3% during the 3rd quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock valued at $57,021,000 after acquiring an additional 454,416 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cantor Fitzgerald began coverage on shares of Incyte in a research report on Tuesday. They issued a “neutral” rating on the stock. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Bank of America dropped their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Finally, BMO Capital Markets increased their price objective on Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a research report on Wednesday, February 14th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

Incyte Trading Up 0.2 %

Shares of INCY traded up $0.09 during mid-day trading on Wednesday, hitting $51.74. 1,564,434 shares of the company’s stock traded hands, compared to its average volume of 1,724,911. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $11.62 billion, a P/E ratio of 19.49, a PEG ratio of 1.20 and a beta of 0.65. The business’s 50-day moving average price is $57.18 and its 200-day moving average price is $57.82. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $75.74.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (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 company 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 firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Incyte Co. will post 3.85 EPS for the current fiscal year.

Incyte Company 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.