Incyte Co. (NASDAQ:INCY) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in Incyte Co. (NASDAQ:INCY) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,924 shares of the biopharmaceutical company’s stock after acquiring an additional 533 shares during the quarter. Fifth Third Bancorp’s holdings in Incyte were worth $616,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new stake in Incyte during the third quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte during the 3rd quarter worth approximately $33,000. Cromwell Holdings LLC grew its holdings in shares of Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 283 shares during the period. Groupama Asset Managment increased its stake in Incyte by 11.4% in the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 6,105 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Incyte during the third quarter worth $45,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INCY has been the subject of a number of research analyst reports. Citigroup raised their price target on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. Morgan Stanley raised their price target on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets restated an “underperform” rating and issued a $52.00 target price (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $75.71.

Insiders Place Their Bets

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction 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 $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,375 shares of company stock valued at $1,737,578 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Incyte Trading Up 0.1 %

NASDAQ:INCY opened at $73.77 on Friday. The stock has a market cap of $14.21 billion, a price-to-earnings ratio of 526.97, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The business’s 50-day simple moving average is $71.71 and its 200 day simple moving average is $68.71.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. As a group, sell-side analysts predict that Incyte Co. will post 0.39 earnings per share for the current fiscal year.

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.