500 Shares in Incyte Co. (NASDAQ:INCY) Bought by Raiffeisen Bank International AG

Raiffeisen Bank International AG acquired a new position in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 500 shares of the biopharmaceutical company’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redwood Investment Management LLC acquired a new position in shares of Incyte in the fourth quarter worth $1,436,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Incyte by 3,731.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,158 shares of the biopharmaceutical company’s stock worth $1,323,000 after acquiring an additional 18,658 shares during the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of Incyte by 2,274.9% in the fourth quarter. Point72 Hong Kong Ltd now owns 69,965 shares of the biopharmaceutical company’s stock worth $4,832,000 after acquiring an additional 67,019 shares during the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of Incyte in the fourth quarter worth $163,000. Finally, Nissay Asset Management Corp Japan ADV grew its position in shares of Incyte by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company’s stock valued at $1,410,000 after purchasing an additional 150 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Trading Up 0.8%

Shares of INCY opened at $63.81 on Tuesday. The stock’s 50-day moving average is $60.41 and its two-hundred day moving average is $68.30. The stock has a market cap of $12.35 billion, a PE ratio of 236.34, a P/E/G ratio of 0.41 and a beta of 0.68. Incyte Co. has a 12 month low of $53.56 and a 12 month high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Equities analysts forecast that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,475 shares of company stock worth $2,424,751 over the last quarter. 17.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on INCY shares. Royal Bank of Canada lifted their price objective on Incyte from $64.00 to $67.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 30th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on Incyte from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. William Blair downgraded Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Finally, Guggenheim downgraded Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.53.

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.