CIBC Asset Management Inc grew its holdings in Incyte Co. (NASDAQ:INCY – Free Report) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,493 shares of the biopharmaceutical company’s stock after purchasing an additional 1,190 shares during the period. CIBC Asset Management Inc’s holdings in Incyte were worth $1,830,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new position in Incyte in the 3rd quarter valued at approximately $156,611,000. Mizuho Securities USA LLC grew its holdings in shares of Incyte by 13,814.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after acquiring an additional 1,985,726 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Incyte by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after acquiring an additional 364,169 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Incyte by 5.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock worth $83,680,000 after acquiring an additional 70,596 shares in the last quarter. Finally, Barclays PLC boosted its position in Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock valued at $68,208,000 after purchasing an additional 77,542 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
INCY has been the topic of several research reports. Oppenheimer upped their target price on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Royal Bank of Canada cut their price objective on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 11th. The Goldman Sachs Group boosted their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price target on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $75.59.
Incyte Stock Performance
Shares of NASDAQ INCY opened at $72.05 on Friday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a market cap of $13.94 billion, a P/E ratio of 266.87, a P/E/G ratio of 0.40 and a beta of 0.70. The business’s 50 day moving average is $71.17 and its two-hundred day moving average is $69.33. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY – Get Free Report) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, equities analysts expect that Incyte Co. will post 4.86 EPS for the current year.
Insider Activity
In related news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,695 shares of company stock valued at $1,444,356. Insiders own 17.60% of the company’s stock.
About Incyte
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.
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