Mackenzie Financial Corp Increases Holdings in Incyte Co. (NASDAQ:INCY)

Mackenzie Financial Corp raised its stake in shares of Incyte Co. (NASDAQ:INCY) by 13.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 373,789 shares of the biopharmaceutical company’s stock after buying an additional 45,578 shares during the quarter. Mackenzie Financial Corp’s holdings in Incyte were worth $23,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Clear Street Markets LLC raised its stake in Incyte by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 175 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Incyte during the 4th quarter valued at $31,000. Parkside Financial Bank & Trust grew its position in shares of Incyte by 91.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 213 shares during the period. Allworth Financial LP grew its position in shares of Incyte by 40.0% during the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 229 shares during the period. Finally, Salem Investment Counselors Inc. grew its position in shares of Incyte by 1,458.0% during the 2nd quarter. Salem Investment Counselors Inc. now owns 779 shares of the biopharmaceutical company’s stock valued at $59,000 after acquiring an additional 729 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Down 0.9 %

Shares of NASDAQ:INCY opened at $52.72 on Thursday. The business has a 50-day moving average price of $57.65 and a 200 day moving average price of $57.99. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.23 and a beta of 0.65. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $75.74.

Incyte (NASDAQ:INCY) last announced 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). The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. Sell-side analysts expect that Incyte Co. will post 3.84 EPS for the current year.

Analyst Ratings Changes

INCY has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on shares of Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. BMO Capital Markets upped their target price 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. Jefferies Financial Group started coverage on shares of Incyte in a report on Friday, February 23rd. They issued a “buy” rating and a $81.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Finally, 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. Eight investment 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.07.

Incyte 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.