Barclays PLC Boosts Stake in Incyte Co. (NASDAQ:INCY)

Barclays PLC lifted its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 8.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,031,932 shares of the biopharmaceutical company's stock after purchasing an additional 77,542 shares during the quarter. Barclays PLC owned about 0.54% of Incyte worth $68,208,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings in Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company's stock worth $215,833,000 after acquiring an additional 779,243 shares in the last quarter. LSV Asset Management boosted its stake in Incyte by 0.5% in the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company's stock worth $167,911,000 after purchasing an additional 15,115 shares in the last quarter. Pacer Advisors Inc. grew its position in Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company's stock worth $163,200,000 after purchasing an additional 2,676,851 shares during the last quarter. AQR Capital Management LLC grew its position in Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company's stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Incyte during the 3rd quarter valued at approximately $156,611,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now directly owns 58,042 shares of the company's stock, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is owned by insiders.

Incyte Price Performance

Shares of NASDAQ:INCY traded down $1.66 during midday trading on Thursday, reaching $70.83. 1,387,862 shares of the company's stock traded hands, compared to its average volume of 2,339,537. The company has a fifty day simple moving average of $72.04 and a two-hundred day simple moving average of $66.07. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a market cap of $13.65 billion, a P/E ratio of 513.00, a PEG ratio of 8.75 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Equities analysts predict that Incyte Co. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $65.00 to $71.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Citigroup lifted their price target on Incyte from $92.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Bank of America raised Incyte from a "neutral" rating to a "buy" rating and increased their price objective for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Royal Bank of Canada upped their target price on Incyte from $72.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group increased their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Incyte has a consensus rating of "Hold" and an average target price of $77.16.

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.