DekaBank Deutsche Girozentrale Has $9.17 Million Stock Holdings in Incyte Corporation (NASDAQ:INCY)

DekaBank Deutsche Girozentrale cut its position in Incyte Corporation (NASDAQ:INCY - Free Report) by 4.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,452 shares of the biopharmaceutical company's stock after selling 7,626 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.08% of Incyte worth $9,170,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INCY. Raiffeisen Bank International AG bought a new stake in Incyte in the 4th quarter valued at $34,000. NBC Securities Inc. boosted its stake in Incyte by 88,200.0% in the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 882 shares during the period. Huntington National Bank boosted its stake in Incyte by 40.7% in the 4th quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company's stock valued at $65,000 after purchasing an additional 270 shares during the period. Intact Investment Management Inc. bought a new stake in Incyte in the 1st quarter valued at $73,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Incyte by 161.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the biopharmaceutical company's stock valued at $88,000 after purchasing an additional 787 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on INCY shares. William Blair downgraded Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. Guggenheim downgraded 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. Wells Fargo & Company upped their target price on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $74.53.

Incyte Price Performance

INCY traded down $1.75 on Friday, reaching $68.59. The stock had a trading volume of 1,094,786 shares, compared to its average volume of 1,952,134. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $83.95. The firm has a 50-day moving average of $66.23 and a 200-day moving average of $66.64. The company has a current ratio of 2.04, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $13.28 billion, a price-to-earnings ratio of 214.35, a price-to-earnings-growth ratio of 0.58 and a beta of 0.68.

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 analysts' consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Incyte Corporation will post 4.86 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total value of $41,097.39. Following the completion of the sale, the executive vice president owned 26,504 shares of the company's stock, valued at approximately $1,818,439.44. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 10,903 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total value of $743,039.45. Following the completion of the sale, the executive vice president directly owned 39,744 shares of the company's stock, valued at approximately $2,708,553.60. The trade was a 21.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,119 shares of company stock valued at $1,371,385 in the last 90 days. Corporate insiders own 17.80% of the company's stock.

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.