Siemens Fonds Invest GmbH Invests $401,000 in Incyte Co. (NASDAQ:INCY)

Siemens Fonds Invest GmbH purchased a new position in shares of Incyte Co. (NASDAQ:INCY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,806 shares of the biopharmaceutical company's stock, valued at approximately $401,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Systems of Alabama lifted its position in Incyte by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company's stock worth $2,391,000 after acquiring an additional 139 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in shares of Incyte by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company's stock valued at $1,410,000 after buying an additional 150 shares during the last quarter. Trust Point Inc. raised its stake in shares of Incyte by 5.0% during the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company's stock valued at $227,000 after buying an additional 156 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Incyte by 0.8% during the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company's stock valued at $1,498,000 after buying an additional 171 shares during the last quarter. Finally, Mather Group LLC. raised its stake in shares of Incyte by 26.4% during the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company's stock valued at $57,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Insiders Place Their Bets

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.80% of the stock is owned by company insiders.

Incyte Price Performance

Shares of Incyte stock traded up $4.65 on Tuesday, hitting $69.96. The company's stock had a trading volume of 2,012,269 shares, compared to its average volume of 2,288,712. 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 1 year low of $53.56 and a 1 year high of $83.95. The firm has a fifty day moving average price of $60.88 and a 200-day moving average price of $67.28. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 259.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. JMP Securities reiterated a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. Citigroup reduced their price objective on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Finally, Morgan Stanley reduced their price objective on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Incyte currently has an average rating of "Hold" and an average price target of $73.60.

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.