Czech National Bank Acquires 2,106 Shares of Incyte Co. (NASDAQ:INCY)

Czech National Bank increased its holdings in Incyte Co. (NASDAQ:INCY) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,670 shares of the biopharmaceutical company’s stock after purchasing an additional 2,106 shares during the period. Czech National Bank’s holdings in Incyte were worth $2,395,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in INCY. CWA Asset Management Group LLC purchased a new position in shares of Incyte during the fourth quarter valued at about $1,933,000. Orion Portfolio Solutions LLC bought a new stake in Incyte in the 3rd quarter worth approximately $770,000. Greenwood Capital Associates LLC purchased a new stake in shares of Incyte during the 3rd quarter worth approximately $433,000. Tri Ri Asset Management Corp bought a new position in shares of Incyte during the 3rd quarter valued at approximately $3,292,000. Finally, Cypress Capital Group purchased a new position in shares of Incyte in the third quarter valued at $971,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,023 shares of company stock valued at $839,711 in the last 90 days. 17.60% of the stock is owned by insiders.

Incyte Trading Up 0.0 %

Shares of Incyte stock opened at $72.47 on Friday. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The firm’s 50-day moving average price is $72.78 and its 200 day moving average price is $67.81. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $13.96 billion, a PE ratio of 517.68, a P/E/G ratio of 0.51 and a beta of 0.71.

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

Wall Street Analysts Forecast Growth

INCY has been the subject of several research reports. Wolfe Research began coverage on shares of Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price objective for the company. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.29.

Incyte 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.