Cognios Beta Neutral Large Cap Fund LP Buys 468 Shares of Incyte Co. (NASDAQ:INCY)

Cognios Beta Neutral Large Cap Fund LP raised its stake in shares of Incyte Co. (NASDAQ:INCY) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,318 shares of the biopharmaceutical company’s stock after purchasing an additional 468 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Incyte were worth $585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. Vanguard Group Inc. increased its stake in shares of Incyte by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,159,419 shares of the biopharmaceutical company’s stock worth $1,280,150,000 after purchasing an additional 289,882 shares during the period. Invesco Ltd. lifted its holdings in shares of Incyte by 3.2% during the third quarter. Invesco Ltd. now owns 3,922,045 shares of the biopharmaceutical company’s stock worth $226,577,000 after buying an additional 120,838 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Incyte by 56.6% during the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock worth $155,053,000 after buying an additional 970,668 shares during the last quarter. Northern Trust Corp boosted its position in shares of Incyte by 5.9% in the third 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 during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Incyte by 17.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,085,465 shares of the biopharmaceutical company’s stock worth $120,477,000 after acquiring an additional 313,731 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on INCY shares. Cantor Fitzgerald initiated coverage on shares of Incyte in a report on Tuesday. They issued a “neutral” rating for the company. Citigroup decreased their target price on Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Bank of America cut their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Oppenheimer reduced their price objective on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, William Blair restated an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.50.

Incyte Price Performance

INCY stock traded up $0.09 during trading on Wednesday, hitting $51.74. 1,564,434 shares of the stock traded hands, compared to its average volume of 1,724,911. 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 stock has a market cap of $11.62 billion, a price-to-earnings ratio of 19.49, 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 50 day simple moving average of $57.18 and a 200 day simple moving average of $57.82.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities analysts expect that Incyte Co. will post 3.85 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.