Geode Capital Management LLC Raises Stock Holdings in Incyte Co. (NASDAQ:INCY)

Geode Capital Management LLC boosted its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,040,086 shares of the biopharmaceutical company's stock after buying an additional 103,910 shares during the period. Geode Capital Management LLC owned approximately 2.10% of Incyte worth $278,346,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INCY. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte during the fourth quarter valued at $26,000. Global X Japan Co. Ltd. boosted its holdings in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 230 shares in the last quarter. R Squared Ltd purchased a new position in Incyte in the fourth quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte during the 3rd quarter worth $33,000. Finally, Blue Trust Inc. increased its holdings in shares of Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 329 shares in the last quarter. Institutional investors own 96.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INCY. StockNews.com lowered Incyte from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Citigroup decreased 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. William Blair downgraded shares of Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. Wells Fargo & Company raised their target price on shares of Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. 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 equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Incyte currently has a consensus rating of "Hold" and an average price target of $74.88.

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Incyte Price Performance

NASDAQ:INCY traded down $3.86 during trading hours on Thursday, reaching $55.00. 726,657 shares of the company were exchanged, compared to its average volume of 2,361,977. The stock's 50-day moving average is $66.90 and its 200-day moving average is $69.70. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The firm has a market cap of $10.64 billion, a PE ratio of 204.04, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (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%. On average, sell-side analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was 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. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is owned by insiders.

About Incyte

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.