Arrowstreet Capital Limited Partnership Purchases New Position in Incyte Co. (NASDAQ:INCY)

Arrowstreet Capital Limited Partnership purchased a new stake in Incyte Co. (NASDAQ:INCY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 268,762 shares of the biopharmaceutical company's stock, valued at approximately $18,563,000. Arrowstreet Capital Limited Partnership owned 0.14% of Incyte as of its most recent SEC filing.

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

Remove Ads

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Guggenheim lowered Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price for the company. in a report on Tuesday, March 18th. Citigroup reduced their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Truist Financial lowered their target price on shares of Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. JMP Securities restated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, UBS Group began coverage on shares of Incyte in a report on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $74.88.

Incyte Trading Up 3.3 %

NASDAQ:INCY traded up $1.89 during trading hours on Wednesday, reaching $58.86. The company's stock had a trading volume of 4,023,898 shares, compared to its average volume of 2,368,134. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 218.01, a PEG ratio of 0.41 and a beta of 0.89. The firm has a 50-day simple moving average of $66.90 and a 200-day simple moving average of $69.70. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95.

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

Insiders Place Their Bets

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares of the company's stock, 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 46,827 shares of company stock valued at $3,322,618 in the last ninety days. Company insiders own 17.60% of the company's stock.

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.