Stevens Capital Management LP Sells 14,322 Shares of Incyte Co. (NASDAQ:INCY)

Stevens Capital Management LP trimmed its holdings in shares of Incyte Co. (NASDAQ:INCY) by 58.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,239 shares of the biopharmaceutical company’s stock after selling 14,322 shares during the quarter. Stevens Capital Management LP’s holdings in Incyte were worth $643,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. Larson Financial Group LLC raised its holdings in shares of Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 422 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Incyte during the 4th quarter worth approximately $31,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Incyte by 157.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 472 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Incyte by 40.0% in the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 229 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in Incyte during the 3rd quarter worth $83,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

Shares of NASDAQ INCY traded down $0.56 during midday trading on Thursday, reaching $51.18. 1,771,930 shares of the company traded hands, compared to its average volume of 1,725,502. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $75.74. The stock has a 50-day moving average price of $57.06 and a 200 day moving average price of $57.78. 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 company has a market cap of $11.49 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 1.19 and a beta of 0.65.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data 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). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Incyte’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Incyte Co. will post 3.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. Jefferies Financial Group assumed coverage on shares of Incyte in a research report on Friday, February 23rd. They issued a “buy” rating and a $81.00 target price on the stock. BMO Capital Markets raised their price target on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Finally, William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.50.

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.