Northern Trust Corp Has $117.15 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Northern Trust Corp boosted its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,696,123 shares of the biopharmaceutical company's stock after buying an additional 150,672 shares during the quarter. Northern Trust Corp owned approximately 0.88% of Incyte worth $117,151,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in INCY. CWA Asset Management Group LLC bought a new stake in Incyte in the 4th quarter valued at $1,933,000. Wells Fargo & Company MN boosted 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 acquiring an additional 66,220 shares during the period. Pallas Capital Advisors LLC acquired a new position in shares of Incyte in the fourth quarter valued at about $1,006,000. JPMorgan Chase & Co. increased its position in Incyte by 13.5% during the fourth quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock worth $22,354,000 after acquiring an additional 38,550 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Incyte by 262.2% in the fourth quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company's stock valued at $6,866,000 after buying an additional 71,963 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. StockNews.com raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Morgan Stanley decreased their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. Stifel Nicolaus upped 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. Finally, Citigroup decreased 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $73.53.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value 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. The trade was a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now directly owns 25,848 shares of the company's stock, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,475 shares of company stock worth $2,424,751 over the last quarter. Company insiders own 17.60% of the company's stock.

Incyte Trading Down 0.5 %

Shares of INCY stock traded down $0.30 during trading hours on Friday, hitting $59.43. 310,355 shares of the company's stock traded hands, compared to its average volume of 2,351,299. The stock has a market cap of $11.50 billion, a PE ratio of 220.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The stock's 50 day simple moving average is $61.53 and its 200 day simple moving average is $68.69. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $52.81 and a 12 month high of $83.95.

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, beating analysts' consensus estimates of $1.01 by $0.15. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, sell-side analysts anticipate that Incyte Co. will post 4.86 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.