Massachusetts Financial Services Co. MA Increases Stock Holdings in Incyte Co. (NASDAQ:INCY)

Massachusetts Financial Services Co. MA raised its position in Incyte Co. (NASDAQ:INCY - Free Report) by 94.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 139,712 shares of the biopharmaceutical company's stock after buying an additional 68,021 shares during the period. Massachusetts Financial Services Co. MA owned about 0.07% of Incyte worth $9,650,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new position in Incyte during the fourth quarter worth about $26,000. Global X Japan Co. Ltd. increased its holdings in shares of Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 230 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Incyte during the 4th quarter valued at approximately $30,000. Groupama Asset Managment lifted its holdings in Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 6,105 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 329 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,827 shares of company stock worth $3,322,618. Corporate insiders own 17.60% of the company's stock.

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Incyte Stock Up 3.1 %

INCY stock traded up $1.70 during mid-day trading on Friday, reaching $56.87. The company had a trading volume of 2,073,635 shares, compared to its average volume of 2,376,575. The firm has a fifty day simple moving average of $66.19 and a 200 day simple moving average of $69.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The company 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 fifty-two week low of $50.35 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results 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%. Analysts forecast that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on INCY shares. StockNews.com lowered Incyte from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Morgan Stanley lowered their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, March 24th. Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target on the stock. in a research note on Tuesday, March 18th. Truist Financial lowered their price objective on shares of Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company boosted their target price on Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Incyte has a consensus rating of "Hold" and an average target price of $74.88.

Incyte 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.