Incyte Co. (NASDAQ:INCY) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp grew its position in shares of Incyte Co. (NASDAQ:INCY) by 16.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 25,399 shares of the biopharmaceutical company’s stock after purchasing an additional 3,548 shares during the quarter. Cibc World Markets Corp’s holdings in Incyte were worth $1,754,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of INCY. Banque Cantonale Vaudoise raised its position in Incyte by 336.1% in the third quarter. Banque Cantonale Vaudoise now owns 8,730 shares of the biopharmaceutical company’s stock worth $577,000 after acquiring an additional 6,728 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Incyte in the 3rd quarter worth approximately $292,000. PNC Financial Services Group Inc. lifted its stake in Incyte by 42.1% during the third quarter. PNC Financial Services Group Inc. now owns 30,649 shares of the biopharmaceutical company’s stock valued at $2,026,000 after purchasing an additional 9,083 shares during the last quarter. Commerce Bank acquired a new stake in Incyte during the third quarter valued at approximately $610,000. Finally, Advisors Asset Management Inc. boosted its holdings in Incyte by 2.6% during the third quarter. Advisors Asset Management Inc. now owns 15,244 shares of the biopharmaceutical company’s stock worth $1,008,000 after buying an additional 386 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of INCY stock opened at $61.92 on Friday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The stock’s 50-day moving average is $70.61 and its two-hundred day moving average is $70.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The firm has a market cap of $11.98 billion, a P/E ratio of 229.34, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS 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%. Analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated Friday, March 14th. The stock was 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 of the company’s stock, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Stifel Nicolaus upped their target price on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. Truist Financial dropped their price target on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Tuesday. Citigroup reduced their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada dropped their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.13.

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.