Great Lakes Advisors LLC Sells 720 Shares of Incyte Co. (NASDAQ:INCY)

Great Lakes Advisors LLC lessened its holdings in Incyte Co. (NASDAQ:INCY) by 12.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,102 shares of the biopharmaceutical company’s stock after selling 720 shares during the period. Great Lakes Advisors LLC’s holdings in Incyte were worth $352,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in Incyte during the third quarter valued at approximately $156,611,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Incyte by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company’s stock valued at $113,487,000 after buying an additional 33,847 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Incyte by 7.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company’s stock valued at $77,877,000 after buying an additional 78,827 shares in the last quarter. Candriam S.C.A. increased its holdings in Incyte by 27.8% during the fourth quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock worth $71,463,000 after buying an additional 224,919 shares during the last quarter. Finally, Barclays PLC raised 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 worth $68,208,000 after acquiring an additional 77,542 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on INCY shares. Stifel Nicolaus upped their target price on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. Citigroup cut their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Royal Bank of Canada decreased their target price on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 11th. UBS Group assumed coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.25.

Incyte Stock Up 0.2 %

NASDAQ INCY opened at $67.86 on Monday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 251.34, a PEG ratio of 0.41 and a beta of 0.76. The company has a 50 day moving average of $71.75 and a 200-day moving average of $70.34. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. On average, equities research analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,020 shares of company stock valued at $1,981,882 over the last quarter. 17.60% of the stock is owned by corporate insiders.

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.