Incyte Co. (NASDAQ:INCY) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 640,134 shares of the biopharmaceutical company's stock after purchasing an additional 32,988 shares during the quarter. Federated Hermes Inc. owned approximately 0.33% of Incyte worth $44,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Retirement Systems of Alabama increased 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 worth $2,391,000 after buying an additional 139 shares in the last quarter. Trust Point Inc. lifted its holdings in Incyte by 5.0% in the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company's stock valued at $227,000 after purchasing an additional 156 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company's stock worth $57,000 after buying an additional 173 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of Incyte by 3.9% in the fourth 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 last quarter. Finally, Catalyst Financial Partners LLC boosted its position in Incyte by 2.7% during the fourth quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company's stock worth $518,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

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Incyte Stock Performance

INCY traded up $1.70 on Friday, reaching $56.87. The company had a trading volume of 2,073,635 shares, compared to its average volume of 2,381,171. 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. The stock has a market capitalization of $11.01 billion, a PE ratio of 210.64, a P/E/G ratio of 0.41 and a beta of 0.89. The stock has a 50-day moving average price of $66.19 and a 200-day moving average price of $69.63.

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

Analyst Upgrades and Downgrades

INCY has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. Wells Fargo & Company lifted their target price on shares of Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a report on Thursday, December 19th. Morgan Stanley dropped their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, March 24th. Stifel Nicolaus upped their price objective on Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research report on Monday, February 10th. Finally, JMP Securities reiterated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Incyte presently has a consensus rating of "Hold" and an average price target of $74.88.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the business's 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 transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock worth $3,322,618 in the last 90 days. 17.60% of the stock is owned by insiders.

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.