Incyte Co. (NASDAQ:INCY) Shares Acquired by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 409.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,023 shares of the biopharmaceutical company's stock after acquiring an additional 30,565 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Incyte were worth $2,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC boosted its stake in shares of Incyte by 8.1% in the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock valued at $68,208,000 after buying an additional 77,542 shares during the period. Tri Ri Asset Management Corp acquired a new stake in Incyte in the third quarter valued at approximately $3,292,000. GAMMA Investing LLC lifted its stake in Incyte by 18.3% in the fourth quarter. GAMMA Investing LLC now owns 5,764 shares of the biopharmaceutical company's stock worth $398,000 after acquiring an additional 890 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Incyte during the 4th quarter worth approximately $265,000. Finally, Nordea Investment Management AB increased its position in shares of Incyte by 9.2% in the 4th quarter. Nordea Investment Management AB now owns 13,738 shares of the biopharmaceutical company's stock valued at $945,000 after purchasing an additional 1,153 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research report on Monday, February 10th. Citigroup lowered their price objective on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Cantor Fitzgerald reissued a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. StockNews.com downgraded Incyte from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Finally, JMP Securities reissued a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Incyte currently has an average rating of "Hold" and an average price target of $74.69.

Insider Activity at Incyte

In other news, EVP Sheila A. Denton sold 599 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,809,101.52. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,475 shares of company stock worth $2,424,751 in the last three months. Insiders own 17.60% of the company's stock.

Incyte Stock Performance

NASDAQ INCY opened at $59.16 on Friday. The business's 50-day moving average price is $63.63 and its 200 day moving average price is $69.02. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.45 billion, a P/E ratio of 219.12, a P/E/G ratio of 0.41 and a beta of 0.89. 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 announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate 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 expect that Incyte Co. will post 4.86 earnings per share 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.

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