Incyte Co. (NASDAQ:INCY) Stake Lessened by National Bank of Canada FI

National Bank of Canada FI reduced its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,916 shares of the biopharmaceutical company's stock after selling 6,812 shares during the quarter. National Bank of Canada FI's holdings in Incyte were worth $5,175,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INCY. Norges Bank purchased a new position in shares of Incyte in the fourth quarter valued at $121,890,000. Sound Shore Management Inc. CT lifted its holdings in Incyte by 98.4% in 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 buying an additional 595,741 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Incyte by 73.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock valued at $90,749,000 after buying an additional 556,218 shares during the last quarter. Long Corridor Asset Management Ltd purchased a new position in Incyte in the 4th quarter valued at about $22,793,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Incyte during the fourth quarter valued at about $18,563,000. Hedge funds and other institutional investors own 96.97% of the company's stock.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a report on Thursday, December 19th. Stifel Nicolaus increased their target price on Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research note on Monday, February 10th. Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target for the company. in a research report on Tuesday, March 18th. Morgan Stanley cut their price target on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. Finally, StockNews.com downgraded shares of Incyte from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Incyte presently has an average rating of "Hold" and an average price target of $74.88.

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Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 33,567 shares of the company's stock, valued at $2,272,150.23. This represents a 37.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,827 shares of company stock worth $3,322,618 in the last ninety days. 17.60% of the stock is owned by insiders.

Incyte Stock Performance

Shares of NASDAQ:INCY traded up $1.70 during trading on Friday, hitting $56.87. 2,073,635 shares of the company traded hands, compared to its average volume of 2,376,575. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business's fifty day moving average is $66.19 and its 200-day moving average is $69.59. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 210.64, a PEG 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.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 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%. As a group, equities analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

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.