Prudential PLC Takes $206,000 Position in Incyte Co. (NASDAQ:INCY)

Prudential PLC bought a new position in Incyte Co. (NASDAQ:INCY) during the 4th quarter, Holdings Channel reports. The firm bought 2,988 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Incyte by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company’s stock worth $278,346,000 after acquiring an additional 103,910 shares during the last quarter. Norges Bank acquired a new stake in shares of Incyte in the fourth quarter valued at approximately $121,890,000. Charles Schwab Investment Management Inc. raised its position in Incyte by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company’s stock worth $113,487,000 after purchasing an additional 33,847 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Incyte by 73.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company’s stock worth $90,749,000 after buying an additional 556,218 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its position 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 buying an additional 595,741 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on INCY. Royal Bank of Canada cut their price target on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. William Blair downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Finally, Guggenheim lowered shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price for the company. in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.88.

Incyte Stock Down 5.5 %

Shares of INCY stock opened at $56.97 on Wednesday. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 211.01, a P/E/G ratio of 0.41 and a beta of 0.89. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a fifty day moving average of $67.51 and a 200-day moving average of $69.81. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (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%. As a group, equities research analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Sheila A. Denton sold 599 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by insiders.

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.