Alliancebernstein L.P. Buys 27,900 Shares of Incyte Co. (NASDAQ:INCY)

Alliancebernstein L.P. grew its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 274,098 shares of the biopharmaceutical company's stock after acquiring an additional 27,900 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Incyte worth $18,932,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Incyte during the fourth quarter worth about $121,890,000. Sound Shore Management Inc. CT lifted its holdings in 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 worth $82,959,000 after purchasing an additional 595,741 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Incyte by 73.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock valued at $90,749,000 after acquiring an additional 556,218 shares during the period. Long Corridor Asset Management Ltd bought a new position in shares of Incyte during the fourth quarter worth approximately $22,793,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Incyte during the 4th quarter valued at $18,563,000. 96.97% of the stock is owned by institutional investors.

Insider Transactions at Incyte

In other news, EVP Sheila A. Denton sold 599 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Steven H. Stein sold 12,352 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,827 shares of company stock worth $3,322,618. Company insiders own 17.60% of the company's stock.

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Incyte Trading Up 3.1 %

NASDAQ:INCY traded up $1.70 during trading hours on Friday, hitting $56.87. 2,073,635 shares of the company were exchanged, compared to its average volume of 2,376,575. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 210.64, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a fifty day simple moving average of $66.19 and a 200 day simple moving average of $69.59. 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 issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Sell-side analysts expect that Incyte Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INCY has been the topic of several recent analyst reports. StockNews.com lowered shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, December 19th. Morgan Stanley reduced their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. JMP Securities restated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Incyte presently has a consensus rating of "Hold" and a consensus target price of $74.88.

Incyte Company Profile

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.