Principal Financial Group Inc. lessened its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 220,750 shares of the biopharmaceutical company's stock after selling 27,138 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Incyte worth $14,592,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Incyte by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company's stock valued at $1,294,120,000 after buying an additional 196,440 shares in the last quarter. Acadian Asset Management LLC raised its position in Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company's stock valued at $215,833,000 after purchasing an additional 779,243 shares during the period. LSV Asset Management lifted its stake in shares of Incyte by 0.5% in the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company's stock valued at $167,911,000 after purchasing an additional 15,115 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Incyte by 17,460.4% in the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company's stock worth $163,200,000 after purchasing an additional 2,676,851 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company's stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the period. Hedge funds and other institutional investors own 96.97% of the company's stock.
Incyte Stock Down 2.4 %
Shares of NASDAQ INCY traded down $1.86 during midday trading on Friday, reaching $75.87. 3,842,709 shares of the company's stock traded hands, compared to its average volume of 2,342,010. The company has a market cap of $14.62 billion, a price-to-earnings ratio of 541.97, a P/E/G ratio of 9.28 and a beta of 0.71. The stock's 50 day simple moving average is $68.99 and its 200-day simple moving average is $63.75. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte Co. has a one year low of $50.35 and a one year high of $83.95.
Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm's revenue was up 23.8% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. On average, analysts predict that Incyte Co. will post 0.4 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on INCY. Guggenheim raised their price target on Incyte from $86.00 to $92.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. Wolfe Research started coverage on shares of Incyte in a research note on Tuesday, October 1st. They set an "outperform" rating and a $84.00 price target for the company. William Blair reissued an "outperform" rating on shares of Incyte in a research report on Monday, September 9th. JMP Securities restated a "market perform" rating on shares of Incyte in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group increased their price target on Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Incyte presently has a consensus rating of "Hold" and an average price target of $77.16.
Check Out Our Latest Research Report on INCY
Insider Buying and Selling at Incyte
In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares of the company's stock, valued at $2,269,280.40. This trade represents a 18.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,702 shares of company stock worth $856,166 over the last quarter. Insiders own 17.60% of the company's stock.
About Incyte
(
Free Report)
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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