Incyte Co. (NASDAQ:INCY) Holdings Increased by Ossiam

Ossiam lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,531 shares of the biopharmaceutical company’s stock after acquiring an additional 829 shares during the quarter. Ossiam’s holdings in Incyte were worth $727,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC raised its stake in shares of Incyte by 360.9% in the 4th quarter. GeoWealth Management LLC now owns 3,982 shares of the biopharmaceutical company’s stock worth $275,000 after buying an additional 3,118 shares in the last quarter. Commerce Bank lifted its holdings in Incyte by 429.7% in the 4th quarter. Commerce Bank now owns 48,841 shares of the biopharmaceutical company’s stock valued at $3,373,000 after acquiring an additional 39,620 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Incyte by 67.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 99,000 shares of the biopharmaceutical company’s stock valued at $6,838,000 after purchasing an additional 40,026 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Incyte by 117.7% in the 4th quarter. Bridgewater Associates LP now owns 671,777 shares of the biopharmaceutical company’s stock worth $46,400,000 after purchasing an additional 363,145 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in Incyte during the fourth quarter valued at approximately $899,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $56.80 on Tuesday. The business’s 50-day simple moving average is $64.60 and its 200-day simple moving average is $69.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of 210.38, a P/E/G ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY) last announced 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 net margin of 0.77% and a return on equity of 0.05%. As a group, equities research analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,475 shares of company stock valued at $2,424,751 in the last quarter. Insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INCY. Truist Financial dropped their price target on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Royal Bank of Canada decreased their price target on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Morgan Stanley dropped their target price on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.69.

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.