Charles Schwab Investment Management Inc. Buys 364,169 Shares of Incyte Co. (NASDAQ:INCY)

Charles Schwab Investment Management Inc. lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 29.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,609,220 shares of the biopharmaceutical company’s stock after acquiring an additional 364,169 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Incyte were worth $106,369,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. grew its holdings in Incyte by 36.6% during the first quarter. Bessemer Group Inc. now owns 1,314 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 352 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Incyte by 8.5% in the 1st quarter. Advisors Asset Management Inc. now owns 23,983 shares of the biopharmaceutical company’s stock valued at $1,366,000 after buying an additional 1,869 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Incyte by 15.0% in the 1st quarter. Lazard Asset Management LLC now owns 72,727 shares of the biopharmaceutical company’s stock worth $4,143,000 after acquiring an additional 9,477 shares during the period. Bayesian Capital Management LP acquired a new position in Incyte during the 1st quarter worth $1,040,000. Finally, Kennedy Capital Management LLC bought a new stake in Incyte during the first quarter valued at about $463,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now owns 24,825 shares in the company, valued at $1,562,485.50. This represents a 2.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock worth $856,166 in the last three months. Insiders own 17.60% of the company’s stock.

Incyte Stock Up 2.5 %

Shares of NASDAQ INCY opened at $73.52 on Tuesday. The business has a fifty day moving average of $70.04 and a two-hundred day moving average of $64.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The stock has a market cap of $14.16 billion, a PE ratio of 525.18, a PEG ratio of 8.27 and a beta of 0.71.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. As a group, equities research analysts expect that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INCY. Oppenheimer boosted their price objective on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “underperform” rating and issued a $52.00 price objective (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Royal Bank of Canada increased their price target on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. Finally, William Blair restated an “outperform” rating on shares of Incyte in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Incyte currently has an average rating of “Hold” and a consensus target price of $77.16.

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.