Two Sigma Investments LP Raises Stock Holdings in Incyte Co. (NASDAQ:INCY)

Two Sigma Investments LP grew its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 36.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,049 shares of the biopharmaceutical company's stock after acquiring an additional 7,465 shares during the quarter. Two Sigma Investments LP's holdings in Incyte were worth $1,937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Retirement Systems of Alabama lifted its position in shares of Incyte by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company's stock valued at $2,391,000 after acquiring an additional 139 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of Incyte by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company's stock valued at $1,410,000 after acquiring an additional 150 shares in the last quarter. Trust Point Inc. lifted its position in shares of Incyte by 5.0% in the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company's stock valued at $227,000 after acquiring an additional 156 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Incyte by 0.8% in the fourth quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company's stock valued at $1,498,000 after acquiring an additional 171 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of Incyte by 26.4% in the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 173 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Down 0.3%

Shares of INCY stock traded down $0.18 during trading hours on Thursday, reaching $67.24. The company had a trading volume of 1,712,763 shares, compared to its average volume of 2,235,332. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a twelve month low of $53.56 and a twelve month high of $83.95. The company has a market capitalization of $13.02 billion, a P/E ratio of 249.05, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The stock's fifty day simple moving average is $61.15 and its 200 day simple moving average is $67.28.

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

Insider Activity

In other news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,272,150.23. This trade represents a 37.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 17.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup reduced their target price on Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus increased their target price on Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research report on Monday, February 10th. UBS Group reiterated a "neutral" rating and set a $61.00 target price on shares of Incyte in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, JMP Securities reiterated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $72.53.

Incyte 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.