DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 35,566 Shares of Incyte Co. (NASDAQ:INCY)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main decreased its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,945 shares of the biopharmaceutical company's stock after selling 35,566 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Incyte were worth $3,173,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. acquired a new position in Incyte in the 4th quarter valued at approximately $26,000. Global X Japan Co. Ltd. raised its holdings in Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd acquired a new position in Incyte in the 4th quarter valued at approximately $30,000. Blue Trust Inc. raised its holdings in Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 329 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Incyte in the 4th quarter worth approximately $42,000. Institutional investors own 96.97% of the company's stock.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares of the company's stock, valued at approximately $1,809,101.52. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,475 shares of company stock worth $2,424,751. Insiders own 17.80% of the company's stock.

Incyte Trading Up 0.6%

INCY traded up $0.35 during mid-day trading on Wednesday, reaching $61.16. The stock had a trading volume of 2,143,865 shares, compared to its average volume of 2,335,794. The stock has a market capitalization of $11.84 billion, a P/E ratio of 226.53, a P/E/G ratio of 0.41 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The firm's fifty day simple moving average is $60.95 and its two-hundred day simple moving average is $68.61. Incyte Co. has a 52 week low of $53.56 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The business's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. On average, equities analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Analysts Set New Price Targets

INCY has been the subject of a number of recent research reports. Guggenheim cut 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. JMP Securities reissued a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. Wells Fargo & Company increased their target price on Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Morgan Stanley dropped their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their target price on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $73.53.

About Incyte

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.