Banco Santander S.A. Sells 24,218 Shares of Incyte Co. (NASDAQ:INCY)

Banco Santander S.A. decreased its position in Incyte Co. (NASDAQ:INCY) by 20.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 94,418 shares of the biopharmaceutical company’s stock after selling 24,218 shares during the period. Banco Santander S.A.’s holdings in Incyte were worth $6,241,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INCY. Pacer Advisors Inc. raised its holdings in Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares in the last quarter. Mizuho Securities USA LLC raised its stake in shares of Incyte by 13,814.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after purchasing an additional 1,985,726 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after buying an additional 1,101,041 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of 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 buying an additional 779,243 shares in the last quarter. Finally, Swedbank AB bought a new stake in Incyte during the first quarter worth $37,440,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Down 0.8 %

Shares of NASDAQ:INCY opened at $70.45 on Friday. The company has a fifty day moving average of $69.73 and a 200-day moving average of $64.28. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a market capitalization of $13.57 billion, a PE ratio of 503.25, a price-to-earnings-growth ratio of 8.14 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

Incyte (NASDAQ:INCY) 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, equities analysts predict that Incyte Co. will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on INCY shares. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday. Truist Financial reissued a “hold” rating and issued a $74.00 price objective (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Guggenheim lifted their target price on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, BMO Capital Markets reissued an “underperform” rating and issued a $52.00 price target (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Incyte has an average rating of “Hold” and a consensus price target of $77.16.

Insider Activity at Incyte

In other news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock worth $856,166 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

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.