Principal Financial Group Inc. Has $14.59 Million Holdings in Incyte Co. (NASDAQ:INCY)

Principal Financial Group Inc. lessened its position in Incyte Co. (NASDAQ:INCY - Free Report) by 10.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,750 shares of the biopharmaceutical company's stock after selling 27,138 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Incyte worth $14,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INCY. Haverford Trust Co grew its position in shares of Incyte by 1.8% in the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company's stock valued at $515,000 after purchasing an additional 135 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Incyte by 4.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company's stock valued at $262,000 after buying an additional 155 shares during the last quarter. Deseret Mutual Benefit Administrators increased its position in Incyte by 37.1% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company's stock worth $37,000 after buying an additional 164 shares during the period. Ballentine Partners LLC increased its position in Incyte by 4.0% in the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company's stock worth $287,000 after buying an additional 182 shares during the period. Finally, Tectonic Advisors LLC lifted its holdings in shares of Incyte by 1.6% during the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company's stock worth $819,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INCY. Guggenheim boosted their target price on shares of Incyte from $86.00 to $92.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Oppenheimer increased their target price on shares of Incyte from $81.00 to $82.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Incyte from $72.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group raised their price objective on Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $76.29.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 650 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the transaction, the insider now directly owns 23,962 shares of the company's stock, valued at approximately $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $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. Over the last quarter, insiders have sold 11,023 shares of company stock valued at $839,711. 17.60% of the stock is currently owned by corporate insiders.

Incyte Price Performance

NASDAQ:INCY traded down $0.33 on Friday, reaching $69.23. The stock had a trading volume of 966,375 shares, compared to its average volume of 2,270,309. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $13.34 billion, a P/E ratio of 494.54, a price-to-earnings-growth ratio of 7.90 and a beta of 0.69. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The stock has a fifty day moving average price of $72.77 and a 200-day moving average price of $67.04.

Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm's revenue was up 23.8% compared to the same quarter last year. Research analysts forecast that Incyte Co. will post 0.4 EPS for the current year.

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.