Incyte Co. (NASDAQ:INCY) Shares Acquired by Sei Investments Co.

Sei Investments Co. boosted its position in Incyte Co. (NASDAQ:INCY) by 1.6% during the 4th quarter, Holdings Channel reports. The fund owned 203,178 shares of the biopharmaceutical company’s stock after acquiring an additional 3,216 shares during the quarter. Sei Investments Co.’s holdings in Incyte were worth $14,033,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in INCY. Point72 Asset Management L.P. acquired a new stake in shares of Incyte in the 3rd quarter valued at $156,611,000. Candriam S.C.A. increased its holdings in Incyte by 27.8% in the fourth quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock valued at $71,463,000 after buying an additional 224,919 shares during the last quarter. LBP AM SA acquired a new stake in Incyte in the fourth quarter valued at $13,905,000. Los Angeles Capital Management LLC lifted its holdings in Incyte by 94.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 407,201 shares of the biopharmaceutical company’s stock worth $28,125,000 after buying an additional 197,406 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Incyte by 104.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 327,272 shares of the biopharmaceutical company’s stock worth $22,605,000 after acquiring an additional 166,857 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INCY shares. Morgan Stanley cut their target price on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Citigroup decreased 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, JMP Securities reiterated a “market perform” rating on shares of Incyte 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.88.

Insiders Place Their Bets

In related news, EVP Sheila A. Denton sold 14,069 shares of the firm’s 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 sale, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by corporate insiders.

Incyte Stock Down 0.1 %

Shares of NASDAQ:INCY opened at $60.60 on Friday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $69.53 and its 200-day simple moving average is $70.04. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 224.45, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced 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 net margin of 0.77% and a return on equity of 0.05%. As a group, equities research analysts predict that Incyte Co. will post 4.86 earnings per share for the current 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.