Raymond James Financial Inc. Takes $3.62 Million Position in Incyte Co. (NASDAQ:INCY)

Raymond James Financial Inc. purchased a new stake in shares of Incyte Co. (NASDAQ:INCY) during the 4th quarter, Holdings Channel reports. The fund purchased 52,449 shares of the biopharmaceutical company’s stock, valued at approximately $3,623,000.

Several other hedge funds have also recently bought and sold shares of the business. Retirement Systems of Alabama grew its stake in Incyte by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after acquiring an additional 139 shares in the last quarter. Trust Point Inc. boosted its holdings in shares of Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after purchasing an additional 156 shares during the period. Mather Group LLC. grew its position in Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 173 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in Incyte by 3.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after buying an additional 195 shares during the period. Finally, Catalyst Financial Partners LLC lifted its position in Incyte by 2.7% in the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock worth $518,000 after buying an additional 200 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

Shares of INCY opened at $60.68 on Friday. The company has a market capitalization of $11.74 billion, a PE ratio of 224.75, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company’s fifty day moving average price is $69.76 and its 200 day moving average price is $70.05.

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 return on equity of 0.05% and a net margin of 0.77%. As a group, analysts expect that Incyte Co. will post 4.86 earnings per share for the current year.

Insiders Place Their Bets

In other 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 transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,827 shares of company stock valued at $3,322,618 in the last three months. Company insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

INCY has been the topic of a number of research reports. Morgan Stanley dropped their price target on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday. UBS Group initiated coverage on Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. Royal Bank of Canada reduced their price target on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday, February 11th. Truist Financial lowered their price target on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus raised their price objective on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus price target of $74.88.

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.