Incyte Co. (NASDAQ:INCY) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank lifted its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 188.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 156,236 shares of the biopharmaceutical company's stock after purchasing an additional 102,152 shares during the quarter. Toronto Dominion Bank owned 0.08% of Incyte worth $10,791,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of INCY. Barclays PLC increased its stake in Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock worth $68,208,000 after acquiring an additional 77,542 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Incyte in the 4th quarter worth approximately $624,000. Ballentine Partners LLC increased its position in shares of Incyte by 14.3% during the 4th quarter. Ballentine Partners LLC now owns 5,335 shares of the biopharmaceutical company's stock valued at $368,000 after purchasing an additional 666 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in Incyte by 99.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 49,978 shares of the biopharmaceutical company's stock valued at $3,452,000 after buying an additional 24,899 shares during the period. Finally, Advisory Alpha LLC lifted its position in Incyte by 9.0% in the fourth quarter. Advisory Alpha LLC now owns 7,890 shares of the biopharmaceutical company's stock worth $545,000 after buying an additional 650 shares during the last quarter. Institutional investors own 96.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INCY. Truist Financial reduced their target price on shares of Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price objective on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Stifel Nicolaus raised their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research note on Monday, February 10th. Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Guggenheim cut Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price on the stock. in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Incyte has an average rating of "Hold" and a consensus price target of $73.53.

Incyte Stock Down 0.4%

Shares of Incyte stock traded down $0.26 during trading on Monday, hitting $64.25. 873,888 shares of the stock traded hands, compared to its average volume of 2,312,818. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock's fifty day simple moving average is $60.44 and its 200 day simple moving average is $67.90. The firm has a market cap of $12.44 billion, a P/E ratio of 237.97, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. Incyte Co. has a 52-week low of $53.56 and a 52-week high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (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 company 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 earned $0.64 EPS. The firm's quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Activity

In other Incyte news, 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 completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction 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 completion of the transaction, the executive vice president now owns 33,567 shares in the company, valued at $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. Over the last ninety days, insiders have sold 34,475 shares of company stock worth $2,424,751. Corporate insiders own 17.80% of the company's stock.

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.