Sei Investments Co. Has $67.25 Million Holdings in Incyte Corporation $INCY

Sei Investments Co. raised its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 714,558 shares of the biopharmaceutical company’s stock after purchasing an additional 51,112 shares during the period. Sei Investments Co.’s holdings in Incyte were worth $67,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Elyxium Wealth LLC bought a new stake in shares of Incyte during the fourth quarter worth approximately $28,000. Smithfield Trust Co lifted its holdings in Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 162 shares during the period. MUFG Securities EMEA plc bought a new position in Incyte in the second quarter valued at approximately $32,000. CYBER HORNET ETFs LLC bought a new position in Incyte in the second quarter valued at approximately $33,000. Finally, Leonteq Securities AG acquired a new stake in Incyte during the 4th quarter worth $35,000. Institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank Of Canada upped their target price on shares of Incyte from $95.00 to $99.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. BMO Capital Markets raised their price target on Incyte from $94.00 to $112.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Barclays lifted their price objective on Incyte from $117.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Morgan Stanley upped their price objective on Incyte from $103.00 to $104.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Citigroup reissued a “market perform” rating on shares of Incyte in a research note on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $111.10.

Incyte Stock Up 0.8%

Shares of NASDAQ INCY opened at $117.67 on Friday. Incyte Corporation has a 52-week low of $69.69 and a 52-week high of $119.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The stock has a market cap of $23.51 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.05 and a beta of 0.76. The firm has a 50 day moving average price of $106.82 and a 200 day moving average price of $101.63.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.43. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $1.16 earnings per share. Analysts expect that Incyte Corporation will post 6.63 EPS for the current year.

Incyte Company 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.