Dodge & Cox Has $1.03 Billion Holdings in Incyte Co. (NASDAQ:INCY)

Dodge & Cox trimmed its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,919,633 shares of the biopharmaceutical company's stock after selling 356,460 shares during the quarter. Dodge & Cox owned approximately 7.74% of Incyte worth $1,030,499,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Incyte by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock valued at $278,346,000 after purchasing an additional 103,910 shares during the period. LSV Asset Management raised its holdings in Incyte by 18.6% in the 4th quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock valued at $239,500,000 after acquiring an additional 544,080 shares during the period. Norges Bank acquired a new stake in Incyte during the fourth quarter worth approximately $121,890,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Incyte by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company's stock worth $113,487,000 after acquiring an additional 33,847 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in shares of Incyte by 73.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock valued at $90,749,000 after purchasing an additional 556,218 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now owns 33,567 shares of the company's stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sheila A. Denton sold 14,069 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. The trade was a 35.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is currently owned by insiders.

Incyte Trading Up 0.8 %

INCY traded up $0.48 during midday trading on Friday, hitting $58.21. 1,172,156 shares of the company were exchanged, compared to its average volume of 2,377,197. The firm has a market capitalization of $11.27 billion, a P/E ratio of 215.60, a P/E/G ratio of 0.41 and a beta of 0.89. The firm's 50 day moving average price is $64.84 and its 200-day moving average price is $69.31. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. 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 earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share 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%. As a group, equities analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on INCY. Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. Stifel Nicolaus boosted their price objective on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a report on Monday, February 10th. Truist Financial dropped their price target 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. Royal Bank of Canada dropped their price objective on Incyte from $70.00 to $68.00 and set a "sector perform" rating for the company in a report on Tuesday, February 11th. Finally, Morgan Stanley decreased their price target on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.