The Manufacturers Life Insurance Company Has $12.77 Million Stake in Incyte Co. (NASDAQ:INCY)

The Manufacturers Life Insurance Company grew its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 11.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 184,871 shares of the biopharmaceutical company's stock after acquiring an additional 19,334 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.10% of Incyte worth $12,769,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Quintet Private Bank Europe S.A. bought a new position in Incyte in the 4th quarter valued at about $26,000. Global X Japan Co. Ltd. boosted its holdings in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd acquired a new position in shares of Incyte during the fourth quarter valued at approximately $30,000. Blue Trust Inc. raised its holdings in Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 329 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in Incyte in the fourth quarter worth approximately $42,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction on 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 transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sheila A. Denton sold 599 shares of the company's stock in a transaction on 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 sale, 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 sold 34,475 shares of company stock worth $2,424,751 over the last ninety days. 17.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

INCY has been the topic of a number of research reports. JMP Securities reissued a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. Royal Bank of Canada upped their price target on shares of 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 lifted their price objective on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price 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. Finally, William Blair lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have given 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.com, the stock presently has an average rating of "Hold" and a consensus target price of $73.53.

Incyte Stock Down 0.5 %

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

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