Incyte Co. (NASDAQ:INCY) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 13.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 323,640 shares of the biopharmaceutical company's stock after purchasing an additional 38,550 shares during the quarter. JPMorgan Chase & Co. owned 0.17% of Incyte worth $22,354,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. bought a new stake in Incyte in the fourth quarter worth $26,000. Global X Japan Co. Ltd. raised its stake in 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 during the last quarter. R Squared Ltd bought a new position in Incyte in the fourth quarter valued at about $30,000. Blue Trust Inc. lifted its stake in shares of Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 329 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Incyte during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 96.97% of the company's stock.

Incyte Stock Down 0.0 %

Incyte stock traded down $0.03 during midday trading on Tuesday, hitting $59.19. 188,542 shares of the company's stock were exchanged, compared to its average volume of 2,371,496. The firm has a 50-day moving average of $65.87 and a two-hundred day moving average of $69.58. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a market cap of $11.46 billion, a PE ratio of 219.19, a P/E/G ratio of 0.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

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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 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%. As a group, analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

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

Analyst Ratings Changes

INCY has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research report on Monday, February 10th. William Blair lowered Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. Cantor Fitzgerald restated a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. Royal Bank of Canada decreased their price objective on Incyte from $70.00 to $68.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 11th. Finally, UBS Group began coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 target price on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $74.88.

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.