Incyte Co. (NASDAQ:INCY) Stock Position Boosted by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP increased its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 43.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,953 shares of the biopharmaceutical company's stock after purchasing an additional 16,164 shares during the period. Brevan Howard Capital Management LP's holdings in Incyte were worth $3,657,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in INCY. Geode Capital Management LLC lifted its holdings in shares of Incyte by 2.6% during the 4th 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 period. AQR Capital Management LLC grew its stake in shares of Incyte by 29.7% during the 4th quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock valued at $241,519,000 after buying an additional 801,090 shares during the period. LSV Asset Management increased its holdings in shares of Incyte by 18.6% during the 4th quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock worth $239,500,000 after buying an additional 544,080 shares during the last quarter. Bellevue Group AG boosted its holdings in Incyte by 0.3% in the fourth quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company's stock valued at $149,017,000 after acquiring an additional 6,927 shares during the last quarter. Finally, Norges Bank purchased a new stake in Incyte during the fourth quarter valued at about $121,890,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was 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 owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $74.07, for a total value 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 worth $2,424,751 over the last ninety days. Company insiders own 17.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on INCY shares. Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price for the company. in a research report on Tuesday, March 18th. Truist Financial reduced their target price on shares of Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. Cantor Fitzgerald reissued a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. Morgan Stanley lowered their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, March 24th. Finally, StockNews.com raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Incyte presently has a consensus rating of "Hold" and a consensus price target of $73.53.

Incyte Stock Performance

INCY traded down $0.75 during trading hours on Friday, hitting $58.98. 1,252,514 shares of the stock were exchanged, compared to its average volume of 2,358,645. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 218.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The stock has a 50-day simple moving average of $61.31 and a 200-day simple moving average of $68.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. Incyte Co. has a 12 month low of $52.81 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. During the same period last year, the firm posted $0.64 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. Analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current 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.