Squarepoint Ops LLC Grows Holdings in Incyte Co. (NASDAQ:INCY)

Squarepoint Ops LLC grew its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 326.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,835 shares of the biopharmaceutical company's stock after acquiring an additional 83,291 shares during the quarter. Squarepoint Ops LLC owned 0.06% of Incyte worth $7,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. purchased a new position in Incyte during the fourth quarter worth about $26,000. Global X Japan Co. Ltd. boosted its stake in shares of Incyte by 144.7% in the 4th 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 during the last quarter. R Squared Ltd bought a new position in shares of Incyte in the fourth quarter valued at approximately $30,000. Raiffeisen Bank International AG purchased a new stake in shares of Incyte during the fourth quarter valued at approximately $34,000. Finally, Blue Trust Inc. increased its position in shares of Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 329 shares during the last quarter. Institutional investors own 96.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INCY. 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. Stifel Nicolaus increased their price target on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research report on Monday, February 10th. JMP Securities restated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. 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, Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price for the company. in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Incyte currently has an average rating of "Hold" and an average price target of $73.60.

Incyte Stock Performance

Shares of NASDAQ INCY traded down $0.42 during mid-day trading on Wednesday, hitting $64.93. The company had a trading volume of 1,337,938 shares, compared to its average volume of 2,304,773. The stock's 50-day moving average price is $60.61 and its 200-day moving average price is $67.75. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 240.49, a P/E/G ratio of 0.41 and a beta of 0.68. 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 1 year low of $53.56 and a 1 year high of $83.95.

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, beating 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 firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $996.17 million. During the same period in the prior year, the business posted $0.64 earnings per share. The company's revenue was up 19.5% on a year-over-year basis. On average, sell-side analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Buying and Selling

In other 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 transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at $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 currently owned by insiders.

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.