Incyte Corporation $INCY Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. increased its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,741,061 shares of the biopharmaceutical company’s stock after purchasing an additional 37,790 shares during the period. Pacer Advisors Inc. owned 0.87% of Incyte worth $163,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Incyte during the fourth quarter worth about $122,893,000. Caisse de depot et placement du Quebec grew its stake in shares of Incyte by 264.5% in the third quarter. Caisse de depot et placement du Quebec now owns 1,498,013 shares of the biopharmaceutical company’s stock valued at $127,046,000 after buying an additional 1,087,091 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Incyte by 6,586.4% in the fourth quarter. Marshall Wace LLP now owns 1,072,491 shares of the biopharmaceutical company’s stock valued at $105,930,000 after buying an additional 1,056,451 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Incyte by 3,406.8% during the 4th quarter. Wellington Management Group LLP now owns 739,378 shares of the biopharmaceutical company’s stock valued at $73,028,000 after buying an additional 718,294 shares during the period. Finally, SEB Asset Management AB acquired a new position in Incyte during the 1st quarter worth approximately $60,817,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Price Performance

Shares of NASDAQ INCY opened at $119.52 on Monday. Incyte Corporation has a fifty-two week low of $73.81 and a fifty-two week high of $132.60. The business has a 50 day moving average price of $109.54 and a two-hundred day moving average price of $102.21. The firm has a market cap of $24.23 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 3.96 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.94. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business earned $1.57 EPS. Incyte’s revenue for the quarter was up 37.7% compared to the same quarter last year. On average, analysts anticipate that Incyte Corporation will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen cut Incyte from a “buy” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada lifted their price objective on shares of Incyte from $99.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday. UBS Group boosted their target price on shares of Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Morgan Stanley set a $119.00 target price on shares of Incyte in a research note on Wednesday. Finally, BMO Capital Markets raised their price target on shares of Incyte from $112.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Incyte presently has an average rating of “Hold” and an average target price of $117.74.

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.