Price T Rowe Associates Inc. MD Boosts Stake in Incyte Co. (NASDAQ:INCY)

Price T Rowe Associates Inc. MD grew its stake in shares of Incyte Co. (NASDAQ:INCY) by 50.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 913,708 shares of the biopharmaceutical company’s stock after buying an additional 305,264 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Incyte were worth $63,111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte during the 4th quarter valued at $26,000. Global X Japan Co. Ltd. grew its holdings in shares of Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. R Squared Ltd bought a new position in shares of Incyte during the 4th quarter valued at $30,000. Blue Trust Inc. grew its holdings in shares of Incyte by 124.6% during the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of Incyte during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on INCY. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada reduced their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus upped their price objective on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Finally, William Blair lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. One equities 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $74.69.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the 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 sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the 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 represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,475 shares of company stock worth $2,424,751. Insiders own 17.60% of the company’s stock.

Incyte Stock Up 0.6 %

INCY stock opened at $59.52 on Tuesday. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.52 billion, a PE ratio of 220.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The business has a 50 day moving average of $63.41 and a 200 day moving average of $69.00.

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

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.