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

Squarepoint Ops LLC lifted its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 326.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of INCY. Norges Bank acquired a new position in shares of Incyte in the 4th quarter valued at $121,890,000. AQR Capital Management LLC lifted its stake in Incyte by 29.7% during the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock valued at $241,519,000 after buying an additional 801,090 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Incyte by 861.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company's stock worth $61,587,000 after buying an additional 798,877 shares during the period. Sound Shore Management Inc. CT increased its position in shares of Incyte by 98.4% in the fourth quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock worth $82,959,000 after acquiring an additional 595,741 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Incyte by 73.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock valued at $90,749,000 after acquiring an additional 556,218 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price target on Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. William Blair lowered Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. Truist Financial raised their price objective on Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday. Finally, Royal Bank of Canada lifted their target price on Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Incyte has an average rating of "Hold" and a consensus price target of $73.60.

Insider Transactions at Incyte

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

Incyte Stock Up 1.7%

Shares of INCY traded up $1.10 during mid-day trading on Tuesday, hitting $65.35. 1,266,983 shares of the company's stock were exchanged, compared to its average volume of 2,308,634. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 242.05, a P/E/G ratio of 0.41 and a beta of 0.68. The firm has a fifty day moving average of $60.52 and a two-hundred day moving average of $67.77. 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 twelve month low of $53.56 and a twelve month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last posted its earnings results 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 net margin of 0.77% and a return on equity of 0.05%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. During the same period in the prior year, the business posted $0.64 earnings per share. The business's quarterly 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.

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.