Incyte Co. (NASDAQ:INCY) Position Increased by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 90.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 136,362 shares of the biopharmaceutical company's stock after purchasing an additional 64,632 shares during the quarter. Wellington Management Group LLP owned about 0.07% of Incyte worth $9,419,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in Incyte in the fourth quarter valued at about $121,890,000. Sound Shore Management Inc. CT increased its stake 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 valued at $82,959,000 after purchasing an additional 595,741 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Incyte by 73.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock worth $90,749,000 after purchasing an additional 556,218 shares during the last quarter. Long Corridor Asset Management Ltd purchased a new stake in Incyte during the fourth quarter worth $22,793,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Incyte in the fourth quarter valued at $18,563,000. Hedge funds and other institutional investors own 96.97% of the company's stock.

Incyte Trading Up 0.1 %

Shares of INCY traded up $0.08 during trading hours on Tuesday, hitting $59.30. The stock had a trading volume of 260,972 shares, compared to its average volume of 2,371,747. The company's fifty day simple moving average is $65.87 and its 200 day simple moving average is $69.58. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. 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 firm has a market cap of $11.48 billion, a P/E ratio of 219.62, a P/E/G ratio of 0.41 and a beta of 0.89.

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Incyte (NASDAQ:INCY - Get Free Report) last released 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%. Equities research analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares of the company's stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. This represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock valued at $3,322,618 over the last 90 days. Corporate insiders own 17.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on INCY. StockNews.com lowered shares of Incyte from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. JMP Securities reiterated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. Morgan Stanley lowered their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. Finally, Guggenheim cut Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target for the company. in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average 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.