4,421 Shares in Incyte Co. (NASDAQ:INCY) Purchased by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Incyte Co. (NASDAQ:INCY) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,421 shares of the biopharmaceutical company’s stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INCY. Acadian Asset Management LLC boosted its stake in Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after acquiring an additional 779,243 shares during the last quarter. LSV Asset Management boosted its stake in Incyte by 0.5% in the second quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock valued at $167,911,000 after acquiring an additional 15,115 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after acquiring an additional 2,676,851 shares during the last quarter. AQR Capital Management LLC boosted its stake in Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after acquiring an additional 1,101,041 shares during the last quarter. Finally, Mizuho Securities USA LLC boosted its stake in Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after acquiring an additional 1,985,726 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on INCY. Citigroup boosted their price target on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price target on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley boosted their price target on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $77.16.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $73.52 on Tuesday. The company’s fifty day moving average price is $70.04 and its 200-day moving average price is $64.69. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 525.18, a PEG ratio of 8.27 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 current ratio of 1.87 and a quick ratio of 1.82.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data 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 net margin of 0.80% and a negative return on equity of 0.63%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the company posted $0.91 EPS. Incyte’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities research analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Insider Activity

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This represents a 18.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,702 shares of company stock valued at $856,166. Corporate insiders own 17.60% of the company’s stock.

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.