Toronto Dominion Bank Purchases 7,812 Shares of Incyte Co. (NASDAQ:INCY)

Toronto Dominion Bank grew its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 16.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,084 shares of the biopharmaceutical company's stock after purchasing an additional 7,812 shares during the quarter. Toronto Dominion Bank's holdings in Incyte were worth $3,575,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company's stock worth $163,200,000 after purchasing an additional 2,676,851 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Incyte in the 3rd quarter valued at approximately $156,611,000. Mizuho Securities USA LLC boosted its position in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company's stock valued at $132,207,000 after buying an additional 1,985,726 shares during the last quarter. AQR Capital Management LLC lifted its position in Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company's stock valued at $159,905,000 after purchasing an additional 1,101,041 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company's stock valued at $215,833,000 after acquiring an additional 779,243 shares during the period. 96.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Incyte

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares of the company's stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm's 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 completion of the sale, the executive vice president now directly owns 58,042 shares of the company's stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.60% of the company's stock.

Incyte Stock Performance

NASDAQ:INCY traded up $1.25 during midday trading on Monday, reaching $69.80. 2,835,921 shares of the company traded hands, compared to its average volume of 2,339,230. The company has a fifty day moving average price of $72.14 and a 200 day moving average price of $66.31. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of 489.64, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95.

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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $0.91 EPS. Incyte's revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts expect that Incyte Co. will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Truist Financial reissued a "hold" rating and issued a $74.00 price target (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Royal Bank of Canada raised their price target on Incyte from $72.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, November 14th. JMP Securities reiterated a "market perform" rating on shares of Incyte in a report on Tuesday, September 17th. William Blair reissued an "outperform" rating on shares of Incyte in a report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Incyte from $62.00 to $68.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Incyte has an average rating of "Hold" and a consensus target price of $76.13.

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.