Incyte Co. (NASDAQ:INCY) Shares Purchased by Woodline Partners LP

Woodline Partners LP increased its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 800,088 shares of the biopharmaceutical company's stock after purchasing an additional 5,315 shares during the period. Woodline Partners LP owned 0.42% of Incyte worth $55,262,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Incyte by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock valued at $278,346,000 after acquiring an additional 103,910 shares during the last quarter. AQR Capital Management LLC raised its holdings in Incyte by 29.7% in the 4th quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock valued at $241,519,000 after acquiring an additional 801,090 shares during the last quarter. LSV Asset Management raised its holdings in 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 during the last quarter. Bellevue Group AG raised its holdings in 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 during the last quarter. Finally, Norges Bank acquired a new position in Incyte in the 4th quarter valued at $121,890,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on INCY. Royal Bank of Canada boosted their price target on Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. StockNews.com raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. JMP Securities reissued a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. Finally, Truist Financial lowered their price objective on shares of Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Incyte currently has a consensus rating of "Hold" and an average price target of $73.53.

Incyte Stock Up 0.8%

Shares of Incyte stock opened at $63.81 on Tuesday. The company has a fifty day moving average price of $60.41 and a 200 day moving average price of $68.30. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a twelve month low of $53.56 and a twelve month high of $83.95. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 236.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly 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. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. During the same period in the prior year, the company earned $0.64 EPS. The firm's revenue was up 19.5% on a year-over-year basis. Equities research analysts forecast that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction on 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 transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction on 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 transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,475 shares of company stock worth $2,424,751 in the last quarter. 17.80% of the stock is owned by corporate insiders.

Incyte Company 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.

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