Mackenzie Financial Corp Lowers Stock Holdings in Incyte Co. (NASDAQ:INCY)

Mackenzie Financial Corp lowered its position in Incyte Co. (NASDAQ:INCY - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 242,035 shares of the biopharmaceutical company's stock after selling 18,038 shares during the period. Mackenzie Financial Corp owned 0.13% of Incyte worth $16,717,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte in the fourth quarter worth approximately $26,000. Global X Japan Co. Ltd. grew its holdings in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 230 shares in the last quarter. R Squared Ltd purchased a new stake in Incyte in the 4th quarter valued at $30,000. Raiffeisen Bank International AG purchased a new position in Incyte during the 4th quarter worth $34,000. Finally, Blue Trust Inc. grew its stake in shares of Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 329 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on INCY. Royal Bank of Canada raised their price target on shares of Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. Morgan Stanley dropped their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, March 24th. Citigroup reduced their target price on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Truist Financial lifted their price target on Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $73.60.

Incyte Stock Performance

Incyte stock traded down $0.79 during mid-day trading on Friday, reaching $65.25. The company's stock had a trading volume of 3,737,618 shares, compared to its average volume of 2,289,471. The firm's fifty day moving average price is $60.80 and its two-hundred day moving average price is $67.43. 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 12-month low of $53.56 and a 12-month high of $83.95. The company has a market capitalization of $12.63 billion, a P/E ratio of 241.68, a PEG ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping 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 firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $996.17 million. During the same period last year, the company earned $0.64 earnings per share. The business's revenue for the quarter was up 19.5% on a year-over-year basis. Sell-side analysts predict that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte 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 approximately $2,272,150.23. This trade represents a 37.11% decrease in their position. The disclosure for this sale can be found here. 17.80% of the stock is owned by corporate insiders.

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.