Squarepoint Ops LLC Has $7.52 Million Stake in Incyte Co. (NASDAQ:INCY)

Squarepoint Ops LLC boosted its position in Incyte Co. (NASDAQ:INCY - Free Report) by 326.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,835 shares of the biopharmaceutical company's stock after buying an additional 83,291 shares during the quarter. Squarepoint Ops LLC owned approximately 0.06% of Incyte worth $7,517,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC grew its holdings in Incyte by 8.1% in the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock worth $68,208,000 after buying an additional 77,542 shares in the last quarter. Ballentine Partners LLC grew its position in Incyte by 14.3% in the 4th quarter. Ballentine Partners LLC now owns 5,335 shares of the biopharmaceutical company's stock valued at $368,000 after buying an additional 666 shares in the last quarter. SG Americas Securities LLC grew its position in Incyte by 262.2% in the 4th quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company's stock valued at $6,866,000 after buying an additional 71,963 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Incyte by 1.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 27,047 shares of the biopharmaceutical company's stock valued at $1,868,000 after buying an additional 491 shares during the period. Finally, RFG Advisory LLC bought a new stake in shares of Incyte during the 4th quarter worth about $200,000. 96.97% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Sheila A. Denton sold 599 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the transaction, the executive vice president now directly owns 25,848 shares of the company's stock, valued at approximately $1,809,101.52. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company's stock.

Incyte Trading Up 1.5%

NASDAQ INCY traded up $0.95 during trading on Thursday, reaching $65.88. 443,110 shares of the stock traded hands, compared to its average volume of 2,297,570. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 243.17, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The stock's 50-day moving average price is $60.67 and its 200 day moving average price is $67.73. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte Co. has a fifty-two week low of $53.56 and a fifty-two week high of $83.95.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INCY. JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price target on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price on the stock. in a report on Tuesday, March 18th. Morgan Stanley cut their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, March 24th. Finally, Stifel Nicolaus boosted their price target on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $73.60.

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.