Raymond James Financial Inc. Purchases Shares of 52,449 Incyte Co. (NASDAQ:INCY)

Raymond James Financial Inc. purchased a new position in Incyte Co. (NASDAQ:INCY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 52,449 shares of the biopharmaceutical company's stock, valued at approximately $3,623,000.

A number of other large investors have also made changes to their positions in the stock. Barclays PLC lifted its holdings in Incyte by 8.1% in the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock valued at $68,208,000 after purchasing an additional 77,542 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in Incyte during the third quarter worth approximately $3,292,000. GAMMA Investing LLC grew its stake in Incyte by 18.3% in the 4th quarter. GAMMA Investing LLC now owns 5,764 shares of the biopharmaceutical company's stock worth $398,000 after acquiring an additional 890 shares during the period. Everence Capital Management Inc. acquired a new position in Incyte in the 4th quarter valued at $265,000. Finally, Nordea Investment Management AB lifted its stake in shares of Incyte by 9.2% during the 4th quarter. Nordea Investment Management AB now owns 13,738 shares of the biopharmaceutical company's stock worth $945,000 after purchasing an additional 1,153 shares during the period. Institutional investors and hedge funds own 96.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INCY. Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price for the company. in a report on Tuesday, March 18th. JPMorgan Chase & Co. decreased their price objective on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Cantor Fitzgerald reissued a "neutral" rating on shares of Incyte in a research note on Friday, January 10th. Wells Fargo & Company increased their price target on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, JMP Securities restated a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $73.53.

Incyte Stock Down 0.3 %

Incyte stock traded down $0.19 during midday trading on Friday, hitting $61.84. The stock had a trading volume of 362,491 shares, compared to its average volume of 2,350,835. The business has a fifty day moving average price of $62.77 and a 200 day moving average price of $68.88. Incyte Co. has a 12 month low of $52.28 and a 12 month high of $83.95. The stock has a market cap of $11.97 billion, a P/E ratio of 229.37, a P/E/G ratio of 0.41 and a beta of 0.89. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

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

Insider Buying and Selling

In other news, 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 completion of the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the company'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 approximately $1,809,101.52. This trade represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,475 shares of company stock valued at $2,424,751. Insiders own 17.60% of the company's stock.

About Incyte

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.