Incyte Co. (NASDAQ:INCY) Stock Holdings Decreased by Invesco Ltd.

Invesco Ltd. lowered its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 14.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,048,207 shares of the biopharmaceutical company's stock after selling 526,431 shares during the period. Invesco Ltd. owned approximately 1.58% of Incyte worth $210,540,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Incyte by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock valued at $278,346,000 after acquiring an additional 103,910 shares in the last quarter. Norges Bank bought a new stake in Incyte in the 4th quarter valued at $121,890,000. Charles Schwab Investment Management Inc. raised its stake in shares of Incyte by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company's stock valued at $113,487,000 after buying an additional 33,847 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Incyte by 73.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock worth $90,749,000 after acquiring an additional 556,218 shares during the period. Finally, Sound Shore Management Inc. CT boosted its position in shares of Incyte by 98.4% during the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock valued at $82,959,000 after acquiring an additional 595,741 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INCY. JMP Securities reiterated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. StockNews.com lowered shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. William Blair lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. Royal Bank of Canada dropped their price objective on shares of Incyte from $70.00 to $68.00 and set a "sector perform" rating for the company in a report on Tuesday, February 11th. Finally, Stifel Nicolaus boosted their target price on Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, February 10th. One investment 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $74.88.

Incyte Stock Performance

Shares of NASDAQ:INCY traded down $0.76 on Tuesday, hitting $58.46. 1,479,702 shares of the company were exchanged, compared to its average volume of 2,376,423. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The stock's 50 day moving average price is $65.87 and its 200 day moving average price is $69.58. 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 firm has a market capitalization of $11.31 billion, a P/E ratio of 216.53, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS 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%. Sell-side analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of the firm'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 directly owns 33,567 shares in the company, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares of the company's stock, valued at $1,914,561.36. The trade was a 35.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by corporate 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.