Intech Investment Management LLC Decreases Stock Holdings in Incyte Co. (NASDAQ:INCY)

Intech Investment Management LLC reduced its position in Incyte Co. (NASDAQ:INCY - Free Report) by 53.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,028 shares of the biopharmaceutical company's stock after selling 33,228 shares during the period. Intech Investment Management LLC's holdings in Incyte were worth $2,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of INCY. Quintet Private Bank Europe S.A. purchased a new position in Incyte in the fourth quarter worth about $26,000. Global X Japan Co. Ltd. lifted its position in shares of Incyte by 144.7% during 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 bought a new position in shares of Incyte in the fourth quarter worth approximately $30,000. Brooklyn Investment Group bought a new stake in Incyte during the third quarter valued at about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte in the third quarter valued at about $33,000. Institutional investors own 96.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INCY. Stifel Nicolaus lifted their target price on Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research note on Monday, February 10th. Morgan Stanley reduced their price objective on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday. StockNews.com downgraded shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada cut their price objective on Incyte from $70.00 to $68.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their target price on Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. One equities 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $74.88.

Remove Ads

Insider Activity at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,827 shares of company stock worth $3,322,618. Company insiders own 17.60% of the company's stock.

Incyte Trading Down 1.1 %

INCY stock traded down $0.70 during midday trading on Tuesday, reaching $62.08. The company's stock had a trading volume of 2,603,519 shares, compared to its average volume of 2,266,270. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 229.93, a PEG ratio of 0.41 and a beta of 0.76. The stock has a fifty day simple moving average of $70.42 and a two-hundred day simple moving average of $70.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings data 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%. On average, equities research analysts predict that Incyte Co. will post 4.86 EPS for the current year.

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.