Janus Henderson Group PLC Increases Stake in Incyte Co. (NASDAQ:INCY)

Janus Henderson Group PLC lifted its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,890 shares of the biopharmaceutical company's stock after buying an additional 26,761 shares during the period. Janus Henderson Group PLC owned about 0.10% of Incyte worth $13,669,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte during the fourth quarter valued at about $26,000. Global X Japan Co. Ltd. increased its position in shares of Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. R Squared Ltd purchased a new position in shares of Incyte in the 4th quarter worth about $30,000. Blue Trust Inc. grew its stake in shares of Incyte by 124.6% during the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 329 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Incyte in the fourth quarter worth about $42,000. Institutional investors own 96.97% of the company's stock.

Incyte Trading Up 2.3%

Shares of INCY traded up $1.49 during midday trading on Tuesday, hitting $65.30. The stock had a trading volume of 2,059,096 shares, compared to its average volume of 2,319,280. The firm has a market cap of $12.64 billion, a PE ratio of 241.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. Incyte Co. has a 1 year low of $53.56 and a 1 year high of $83.95. The stock's 50 day moving average is $60.41 and its 200 day moving average is $68.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

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. As a group, analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 25,848 shares of the company's stock, valued at $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. Insiders have sold 34,475 shares of company stock worth $2,424,751 in the last ninety days. 17.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INCY has been the subject of several analyst reports. Royal Bank of Canada increased their target price on Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Wells Fargo & Company raised their price target on shares of Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Morgan Stanley decreased their price objective on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, March 24th. Truist Financial dropped their target price on Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a research report on Tuesday, March 18th. Finally, Citigroup lowered their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $73.53.

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.