Jupiter Asset Management Ltd. Sells 555,931 Shares of Incyte Co. (NASDAQ:INCY)

Jupiter Asset Management Ltd. cut its stake in shares of Incyte Co. (NASDAQ:INCY) by 79.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,593 shares of the biopharmaceutical company’s stock after selling 555,931 shares during the period. Jupiter Asset Management Ltd. owned 0.08% of Incyte worth $10,056,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Incyte by 161.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 787 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Incyte by 8.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,922 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 395 shares in the last quarter. Inspire Advisors LLC grew its holdings in shares of Incyte by 3.2% during the fourth quarter. Inspire Advisors LLC now owns 10,930 shares of the biopharmaceutical company’s stock worth $755,000 after purchasing an additional 341 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Incyte by 6.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 21,993 shares of the biopharmaceutical company’s stock worth $1,519,000 after purchasing an additional 1,344 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Incyte by 104.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 327,272 shares of the biopharmaceutical company’s stock worth $22,605,000 after purchasing an additional 166,857 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INCY has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price objective on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Citigroup cut their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company upped their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.25.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,320 shares of company stock worth $2,072,849. 17.60% of the stock is owned by insiders.

Incyte Price Performance

INCY opened at $67.73 on Thursday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $71.82 and its 200-day simple moving average is $70.27. The company has a market capitalization of $13.11 billion, a price-to-earnings ratio of 250.86, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, equities research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current fiscal 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.