Chase Investment Counsel Corp Acquires Shares of 10,577 Incyte Co. (NASDAQ:INCY)

Chase Investment Counsel Corp acquired a new stake in Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,577 shares of the biopharmaceutical company’s stock, valued at approximately $664,000.

Several other large investors also recently bought and sold shares of the stock. Larson Financial Group LLC raised its holdings in shares of Incyte by 4,220.0% in the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 422 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Incyte in the fourth quarter valued at about $31,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Incyte by 157.3% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 472 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Incyte by 40.0% in the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 229 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Incyte in the third quarter valued at about $83,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $65.00 target price on shares of Incyte in a report on Monday, March 25th. Truist Financial cut their price target 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. Bank of America cut their price target on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. 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 price target for the company. Finally, BMO Capital Markets increased their price target on shares of Incyte from $58.00 to $64.00 and gave the stock a “market perform” rating in a report on Wednesday, February 14th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.50.

Incyte Trading Up 2.7 %

Shares of INCY stock traded up $1.41 during mid-day trading on Monday, reaching $53.09. The company’s stock had a trading volume of 1,018,632 shares, compared to its average volume of 1,714,030. The company’s 50 day simple moving average is $56.78 and its 200-day simple moving average is $57.71. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $75.74. 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 $11.92 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.20 and a beta of 0.65.

Incyte (NASDAQ:INCY) last issued 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 business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the business posted $0.44 EPS. The business’s revenue was up 9.3% on a year-over-year basis. On average, research analysts predict that Incyte Co. will post 3.84 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.