Merlin Capital Inc Purchases New Shares in Incyte Co. (NASDAQ:INCY)

Merlin Capital Inc acquired a new position in shares of Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,659 shares of the biopharmaceutical company’s stock, valued at approximately $230,000.

A number of other institutional investors have also recently bought and sold shares of INCY. Vanguard Group Inc. lifted its holdings in shares of Incyte by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 22,159,419 shares of the biopharmaceutical company’s stock valued at $1,280,150,000 after buying an additional 289,882 shares during the last quarter. Invesco Ltd. raised its stake in shares of Incyte by 3.2% in the 3rd quarter. Invesco Ltd. now owns 3,922,045 shares of the biopharmaceutical company’s stock valued at $226,577,000 after acquiring an additional 120,838 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Incyte by 56.6% in the 3rd quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock valued at $155,053,000 after acquiring an additional 970,668 shares in the last quarter. Northern Trust Corp raised its stake in shares of Incyte by 5.9% in the 3rd quarter. Northern Trust Corp now owns 2,127,688 shares of the biopharmaceutical company’s stock valued at $122,917,000 after acquiring an additional 119,389 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Incyte by 17.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,085,465 shares of the biopharmaceutical company’s stock valued at $120,477,000 after acquiring an additional 313,731 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on INCY shares. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Oppenheimer dropped their price target on Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Truist Financial dropped their price target on Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Bank of America dropped their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $75.50.

Incyte Trading Down 1.5 %

Shares of INCY stock traded down $0.79 on Tuesday, reaching $51.77. 2,081,679 shares of the stock were exchanged, compared to its average volume of 1,742,590. The stock has a market cap of $11.62 billion, a PE ratio of 19.83, a P/E/G ratio of 1.20 and a beta of 0.65. Incyte Co. has a one year low of $50.27 and a one year high of $75.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36. The stock has a 50 day moving average price of $56.67 and a 200 day moving average price of $57.68.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share 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 the consensus estimate of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. Equities research analysts forecast that Incyte Co. will post 3.84 EPS for the current fiscal year.

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.