Deutsche Bank AG Increases Stock Holdings in Incyte Co. (NASDAQ:INCY)

Deutsche Bank AG boosted its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,176,137 shares of the biopharmaceutical company's stock after acquiring an additional 217,109 shares during the period. Deutsche Bank AG owned 0.61% of Incyte worth $81,236,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new position in shares of Incyte during the 4th quarter valued at $26,000. Global X Japan Co. Ltd. boosted its stake in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 230 shares during the period. R Squared Ltd purchased a new position in Incyte during the fourth quarter worth about $30,000. Blue Trust Inc. increased its stake in Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Incyte in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 96.97% of the company's stock.

Incyte Price Performance

INCY opened at $58.98 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The stock's 50 day simple moving average is $61.31 and its 200 day simple moving average is $68.69. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 218.45, a PEG ratio of 0.41 and a beta of 0.68. Incyte Co. has a 1 year low of $53.56 and a 1 year high of $83.95.

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

Analyst Ratings Changes

INCY has been the subject of several recent analyst reports. JMP Securities reissued a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. Wells Fargo & Company boosted their price target on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Royal Bank of Canada increased their price target on shares of Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Citigroup dropped their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Incyte presently has a consensus rating of "Hold" and a consensus target price of $73.53.

Insiders Place Their Bets

In other Incyte 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 completion of the transaction, the executive vice president now owns 25,848 shares of the company's stock, valued at $1,809,101.52. This represents a 2.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value 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 have 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.

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.

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