Generali Asset Management SPA SGR Makes New $2.66 Million Investment in Incyte Co. (NASDAQ:INCY)

Generali Asset Management SPA SGR purchased a new position in Incyte Co. (NASDAQ:INCY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,487 shares of the biopharmaceutical company's stock, valued at approximately $2,658,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quintet Private Bank Europe S.A. acquired a new stake in shares of Incyte in the 4th quarter valued at about $26,000. Global X Japan Co. Ltd. grew its stake in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 230 shares during the period. R Squared Ltd bought a new stake in shares of Incyte during the fourth quarter valued at approximately $30,000. Brooklyn Investment Group acquired a new position in shares of Incyte during the third quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte in the 3rd quarter worth $33,000. 96.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Sheila A. Denton sold 599 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,809,101.52. This represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 33,567 shares of the company's stock, valued at $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 90 days, insiders sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is owned by insiders.

Remove Ads

Analysts Set New Price Targets

INCY has been the subject of a number of recent research reports. StockNews.com lowered shares of Incyte from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. UBS Group started coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a "neutral" rating and a $77.00 target price for the company. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. Royal Bank of Canada cut their price target on Incyte from $70.00 to $68.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 11th. Finally, Citigroup lowered their price objective on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. One 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 stock currently has an average rating of "Hold" and an average price target of $74.88.

Incyte Stock Performance

Shares of INCY stock traded up $0.86 during trading hours on Monday, hitting $62.78. 2,627,264 shares of the company were exchanged, compared to its average volume of 2,266,338. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 232.53, a P/E/G ratio of 0.41 and a beta of 0.76. The firm has a fifty day simple moving average of $70.61 and a 200 day simple moving average of $70.17. Incyte Co. has a 52-week low of $50.35 and a 52-week 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 (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%. Research analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal 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.