Incyte Co. (NASDAQ:INCY) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,536,238 shares of the biopharmaceutical company's stock after purchasing 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.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Incyte in the 4th quarter worth about $121,890,000. AQR Capital Management LLC raised its holdings in Incyte by 29.7% in the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock worth $241,519,000 after buying an additional 801,090 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in 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 last quarter. Sound Shore Management Inc. CT lifted its stake 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 buying an additional 595,741 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew 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 buying an additional 556,218 shares during the last quarter. Institutional investors own 96.97% of the company's stock.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction on 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 $2,272,150.23. This trade represents a 37.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. The trade was a 2.26% decrease in their position. 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. Insiders own 17.80% of the company's stock.

Incyte Trading Up 1.7%

Shares of NASDAQ:INCY traded up $1.10 during trading hours on Tuesday, hitting $65.35. 1,266,983 shares of the company's stock traded hands, compared to its average volume of 2,308,634. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The business has a fifty day moving average price of $60.52 and a 200-day moving average price of $67.77. Incyte Co. has a 1 year low of $53.56 and a 1 year high of $83.95. The firm has a market capitalization of $12.65 billion, a P/E ratio of 242.05, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share 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 analyst estimates of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The business's revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. Equities analysts expect that Incyte Co. will post 4.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. William Blair cut Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. JMP Securities restated a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Royal Bank of Canada lifted their price objective on Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Finally, Truist Financial lifted their price objective on Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a report on Tuesday. 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $73.60.

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.