GF Fund Management CO. LTD. bought a new stake in Incyte Co. (NASDAQ:INCY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,958 shares of the biopharmaceutical company's stock, valued at approximately $550,000.
Other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in Incyte by 61.3% in the fourth quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company's stock valued at $12,031,000 after purchasing an additional 66,220 shares during the period. JPMorgan Chase & Co. grew its holdings in Incyte by 13.5% in the fourth quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock valued at $22,354,000 after purchasing an additional 38,550 shares during the period. Pictet Asset Management Holding SA grew its holdings in Incyte by 73.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock valued at $90,749,000 after purchasing an additional 556,218 shares during the period. Tandem Financial LLC purchased a new stake in Incyte in the fourth quarter valued at approximately $358,000. Finally, Patton Albertson Miller Group LLC grew its holdings in Incyte by 10.9% in the fourth quarter. Patton Albertson Miller Group LLC now owns 87,329 shares of the biopharmaceutical company's stock valued at $6,032,000 after purchasing an additional 8,586 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on INCY shares. Morgan Stanley lowered their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, March 24th. JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Truist Financial lifted their price target on shares of Incyte from $72.00 to $73.00 and gave the company a "hold" rating in a research report on Tuesday. Wall Street Zen raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Incyte currently has a consensus rating of "Hold" and a consensus price target of $73.60.
Read Our Latest Report on INCY
Incyte Stock Performance
Shares of NASDAQ:INCY traded down $1.50 on Friday, reaching $64.54. 844,733 shares of the company's stock were exchanged, compared to its average volume of 2,289,072. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 239.46, a PEG ratio of 0.41 and a beta of 0.68. Incyte Co. has a fifty-two week low of $53.56 and a fifty-two week high of $83.95. The business's 50-day moving average is $60.74 and its two-hundred day moving average is $67.62. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY - Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The firm's revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, equities research analysts forecast that Incyte Co. will post 4.86 EPS for the current year.
Insiders Place Their Bets
In related news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares of the company's stock, valued at $2,272,150.23. This trade represents a 37.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,809,101.52. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. 17.80% of the stock is owned by corporate insiders.
Incyte 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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