Huntington National Bank Boosts Holdings in Incyte Co. (NASDAQ:INCY)

Huntington National Bank boosted its holdings in Incyte Co. (NASDAQ:INCY) by 40.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 934 shares of the biopharmaceutical company’s stock after purchasing an additional 270 shares during the period. Huntington National Bank’s holdings in Incyte were worth $65,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quintet Private Bank Europe S.A. bought a new stake in Incyte in the fourth quarter valued at about $26,000. Global X Japan Co. Ltd. increased its holdings in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Incyte during the 4th quarter valued at approximately $30,000. Groupama Asset Managment lifted its stake in Incyte by 11.4% during the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 6,105 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 329 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Down 0.5 %

Shares of INCY stock opened at $60.29 on Tuesday. Incyte Co. has a 1 year low of $50.35 and a 1 year 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 business’s fifty day moving average is $68.17 and its 200-day moving average is $69.96. The stock has a market cap of $11.67 billion, a PE ratio of 223.30, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Equities analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Incyte

In other news, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction 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 approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock valued at $3,322,618 over the last ninety days. Insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of recent research reports. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Wells Fargo & Company raised their target price 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. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Guggenheim downgraded Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target on the stock. in a report on Tuesday, March 18th. Finally, StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.88.

Incyte 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.