Incyte Co. (NASDAQ:INCY) Position Lifted by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in shares of Incyte Co. (NASDAQ:INCY) by 2.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 30,527 shares of the biopharmaceutical company’s stock after purchasing an additional 782 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Incyte were worth $2,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of INCY. Quintet Private Bank Europe S.A. acquired a new position in Incyte in the fourth quarter worth about $26,000. Global X Japan Co. Ltd. lifted its holdings in Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Incyte in the 3rd quarter worth approximately $30,000. R Squared Ltd bought a new stake in shares of Incyte in the 4th quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte during the 3rd quarter valued at approximately $33,000. Institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INCY. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Tuesday, March 18th. William Blair lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. UBS Group assumed coverage on shares of Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley lowered their target price on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.88.

Insider Activity

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred 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 directly owns 66,967 shares in the company, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by company insiders.

Incyte Stock Down 0.9 %

Incyte stock opened at $60.68 on Friday. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 224.75, a PEG ratio of 0.41 and a beta of 0.76. The company’s 50-day moving average price is $69.76 and its two-hundred day moving average price is $70.05. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

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

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.