Dakota Wealth Management acquired a new stake in shares of Incyte Corporation (NASDAQ:INCY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 51,467 shares of the biopharmaceutical company's stock, valued at approximately $3,116,000.
Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Incyte by 2.6% in 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 lifted its stake in Incyte by 29.7% during the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock valued at $241,519,000 after purchasing an additional 801,090 shares during the last quarter. LSV Asset Management lifted its position in shares of Incyte by 18.6% in the 4th quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock valued at $239,500,000 after acquiring an additional 544,080 shares in the last quarter. Bellevue Group AG lifted its position in shares of Incyte by 0.3% in the 4th 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of Incyte in the 4th quarter valued at approximately $121,890,000. Institutional investors own 96.97% of the company's stock.
Insider Buying and Selling at Incyte
In other news, EVP Barry P. Flannelly sold 10,903 shares of Incyte stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total transaction of $743,039.45. Following the completion of the sale, the executive vice president owned 39,744 shares in the company, valued at $2,708,553.60. The trade was a 21.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vijay K. Iyengar sold 8,617 shares of Incyte stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total transaction of $587,248.55. Following the sale, the executive vice president owned 37,701 shares of the company's stock, valued at approximately $2,569,323.15. This represents a 18.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,119 shares of company stock worth $1,371,385. 17.80% of the stock is currently owned by corporate insiders.
Incyte Price Performance
INCY traded up $0.85 during midday trading on Wednesday, hitting $69.10. The company had a trading volume of 346,412 shares, compared to its average volume of 1,943,914. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 2.04. The company has a market capitalization of $13.38 billion, a PE ratio of 216.25, a P/E/G ratio of 0.59 and a beta of 0.68. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $83.95. The firm's 50-day simple moving average is $66.56 and its 200-day simple moving average is $66.63.
Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. Equities research analysts predict that Incyte Corporation will post 4.86 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms have weighed in on INCY. Royal Bank Of Canada set a $67.00 price objective on shares of Incyte and gave the company a "sector perform" rating in a research note on Monday, June 23rd. Citigroup reiterated a "buy" rating on shares of Incyte in a research note on Tuesday, June 3rd. Wells Fargo & Company increased their price target on shares of Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. UBS Group reissued a "neutral" rating and issued a $61.00 price target on shares of Incyte in a report on Tuesday, June 3rd. Finally, William Blair downgraded shares of Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $74.47.
View Our Latest Research Report on Incyte
Incyte Company Profile
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Free Report)
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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