UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Incyte Co. (NASDAQ:INCY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Incyte Co. (NASDAQ:INCY - Free Report) by 11.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,536,238 shares of the biopharmaceutical company's stock after acquiring an additional 156,773 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.80% of Incyte worth $106,108,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in shares of Incyte by 61.3% in the fourth quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company's stock valued at $12,031,000 after purchasing an additional 66,220 shares during the period. JPMorgan Chase & Co. raised its holdings in Incyte by 13.5% during the 4th quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock valued at $22,354,000 after acquiring an additional 38,550 shares during the period. SG Americas Securities LLC lifted its position in shares of Incyte by 262.2% during the fourth quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company's stock worth $6,866,000 after acquiring an additional 71,963 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Incyte by 73.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock worth $90,749,000 after acquiring an additional 556,218 shares during the period. Finally, Tandem Financial LLC bought a new position in shares of Incyte in the fourth quarter worth $358,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Down 0.6%

Shares of INCY traded down $0.42 during trading hours on Wednesday, hitting $64.93. The company had a trading volume of 1,339,522 shares, compared to its average volume of 2,304,773. Incyte Co. has a 52-week low of $53.56 and a 52-week high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average price is $60.61 and its 200 day moving average price is $67.75. The firm has a market cap of $12.57 billion, a P/E ratio of 240.49, a P/E/G ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The business's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, research analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Insider Activity at Incyte

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Stifel Nicolaus increased their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Guggenheim cut shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective for the company. in a research note on Tuesday, March 18th. Wall Street Zen raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Citigroup cut their price target on shares of Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. One 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. Based on data from MarketBeat.com, Incyte currently has an average rating of "Hold" and an average target price 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.