Cornercap Investment Counsel Inc. Takes $995,000 Position in Incyte Co. (NASDAQ:INCY)

Cornercap Investment Counsel Inc. bought a new stake in Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,846 shares of the biopharmaceutical company’s stock, valued at approximately $995,000.

A number of other institutional investors also recently modified their holdings of the company. Cetera Advisor Networks LLC raised its position in Incyte by 7.4% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,265 shares of the biopharmaceutical company’s stock worth $418,000 after purchasing an additional 362 shares during the last quarter. Private Advisor Group LLC bought a new position in Incyte in the 1st quarter worth approximately $323,000. D.A. Davidson & CO. raised its position in Incyte by 4.8% in the 1st quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 150 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Incyte by 6.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,172 shares of the biopharmaceutical company’s stock worth $1,999,000 after purchasing an additional 1,605 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Incyte by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 596,022 shares of the biopharmaceutical company’s stock worth $47,338,000 after purchasing an additional 43,168 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ INCY opened at $53.43 on Tuesday. The company has a fifty day moving average price of $57.87 and a 200 day moving average price of $58.06. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $75.74. The firm has a market cap of $12.00 billion, a PE ratio of 20.16, a PEG ratio of 1.16 and a beta of 0.65.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm earned $0.44 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts predict that Incyte Co. will post 3.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on INCY shares. Stifel Nicolaus lifted their target price on shares of Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Truist Financial lowered their target price on shares of Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Jefferies Financial Group initiated coverage on shares of Incyte in a report on Friday, February 23rd. They set a “buy” rating and a $81.00 target price for the company. Finally, BMO Capital Markets boosted 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. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Incyte currently has an average rating of “Moderate Buy” and a consensus target price of $76.07.

About Incyte

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.