JPMorgan Chase & Co. Has $22.35 Million Stock Position in Incyte Co. (NASDAQ:INCY)

JPMorgan Chase & Co. lifted its holdings in Incyte Co. (NASDAQ:INCY) by 13.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 323,640 shares of the biopharmaceutical company’s stock after acquiring an additional 38,550 shares during the period. JPMorgan Chase & Co.’s holdings in Incyte were worth $22,354,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte during the fourth quarter worth approximately $26,000. Global X Japan Co. Ltd. grew its position in Incyte by 144.7% during the fourth 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 in the last quarter. R Squared Ltd bought a new position in Incyte during the 4th quarter worth $30,000. Blue Trust Inc. raised its holdings in Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 329 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Incyte during the 4th quarter worth $42,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. The trade was a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

INCY has been the subject of a number of analyst reports. Guggenheim downgraded Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a research note on Tuesday, March 18th. Truist Financial dropped their target price on shares of Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, UBS Group assumed coverage on Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.88.

Incyte Stock Performance

Incyte stock opened at $58.86 on Thursday. The business has a 50 day moving average of $66.90 and a 200-day moving average of $69.70. 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 1 year low of $50.35 and a 1 year high of $83.95. The company has a market capitalization of $11.39 billion, a P/E ratio of 218.01, a P/E/G ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) 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 predict that Incyte Co. will post 4.86 earnings per share for the current year.

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.