Ballentine Partners LLC Buys 666 Shares of Incyte Co. (NASDAQ:INCY)

Ballentine Partners LLC increased its stake in shares of Incyte Co. (NASDAQ:INCY) by 14.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,335 shares of the biopharmaceutical company’s stock after buying an additional 666 shares during the quarter. Ballentine Partners LLC’s holdings in Incyte were worth $368,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Incyte by 24.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,181,269 shares of the biopharmaceutical company’s stock worth $71,617,000 after buying an additional 230,665 shares in the last quarter. Gabelli Funds LLC grew its position in Incyte by 7.3% during the 2nd quarter. Gabelli Funds LLC now owns 15,237 shares of the biopharmaceutical company’s stock worth $924,000 after acquiring an additional 1,037 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Incyte by 71.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 6,322 shares of the biopharmaceutical company’s stock valued at $383,000 after purchasing an additional 2,636 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Incyte by 32.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,129 shares of the biopharmaceutical company’s stock valued at $1,826,000 after purchasing an additional 7,403 shares in the last quarter. Finally, AXA S.A. raised its position in Incyte by 4.4% in the 2nd quarter. AXA S.A. now owns 188,835 shares of the biopharmaceutical company’s stock valued at $11,447,000 after purchasing an additional 8,014 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Incyte stock opened at $72.59 on Friday. The firm has a market capitalization of $13.98 billion, a P/E ratio of 518.54, a PEG ratio of 0.53 and a beta of 0.71. The business has a 50-day moving average of $71.76 and a 200-day moving average of $68.33. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities analysts anticipate that Incyte Co. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on INCY shares. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Wells Fargo & Company boosted their target price on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, January 14th. Finally, Morgan Stanley boosted their price objective on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.71.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the firm’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 sale, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,375 shares of company stock valued at $1,737,578. Company insiders own 17.60% of the company’s stock.

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.