Sector Gamma AS Has $25.03 Million Position in Incyte Co. (NASDAQ:INCY)

Sector Gamma AS reduced its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 398,699 shares of the biopharmaceutical company's stock after selling 33,846 shares during the quarter. Incyte makes up 6.1% of Sector Gamma AS's investment portfolio, making the stock its 5th biggest holding. Sector Gamma AS owned about 0.18% of Incyte worth $25,034,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intact Investment Management Inc. purchased a new stake in shares of Incyte in the 4th quarter valued at about $540,000. Russell Investments Group Ltd. lifted its holdings in shares of Incyte by 29.3% in the 4th quarter. Russell Investments Group Ltd. now owns 963,090 shares of the biopharmaceutical company's stock valued at $60,465,000 after purchasing an additional 217,979 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Incyte in the 4th quarter valued at about $251,000. Syon Capital LLC purchased a new stake in shares of Incyte in the 4th quarter valued at about $243,000. Finally, Cognios Beta Neutral Large Cap Fund LP raised its stake in Incyte by 5.3% during the 4th quarter. Cognios Beta Neutral Large Cap Fund LP now owns 9,318 shares of the biopharmaceutical company's stock valued at $585,000 after acquiring an additional 468 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on INCY shares. Citigroup reduced their price objective on Incyte from $82.00 to $81.00 and set a "buy" rating for the company in a research note on Wednesday, February 14th. BMO Capital Markets upped their price objective on Incyte from $58.00 to $64.00 and gave the company a "market perform" rating in a research note on Wednesday, February 14th. Stifel Nicolaus upped their price objective on Incyte from $67.00 to $68.00 and gave the company a "hold" rating in a research note on Wednesday, February 14th. Oppenheimer reduced their price objective on Incyte from $92.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group started coverage on Incyte in a research note on Friday, February 23rd. They set a "buy" rating and a $81.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.50.

Incyte Price Performance

Shares of INCY traded up $0.50 on Friday, reaching $51.68. The stock had a trading volume of 1,564,403 shares, compared to its average volume of 1,608,044. The firm has a market capitalization of $11.60 billion, a PE ratio of 19.50, a PEG ratio of 1.18 and a beta of 0.65. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $56.78 and a 200 day moving average of $57.70. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $75.74.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.09). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business's revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. Sell-side analysts expect that Incyte Co. will post 3.84 EPS 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.