Centre Asset Management LLC Has $9.40 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Centre Asset Management LLC decreased its stake in shares of Incyte Co. (NASDAQ:INCY) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 136,154 shares of the biopharmaceutical company’s stock after selling 12,184 shares during the quarter. Incyte comprises about 2.2% of Centre Asset Management LLC’s portfolio, making the stock its 20th biggest holding. Centre Asset Management LLC owned about 0.07% of Incyte worth $9,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Haverford Trust Co lifted its position in Incyte by 1.8% during the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after acquiring an additional 135 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Incyte by 4.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 155 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 164 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Incyte by 4.0% during the second quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after buying an additional 182 shares in the last quarter. Finally, Tectonic Advisors LLC boosted its position in shares of Incyte by 1.6% in the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock valued at $819,000 after acquiring an additional 190 shares during the period. 96.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and increased their price target for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. Wells Fargo & Company increased their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Royal Bank of Canada boosted their price target on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, November 14th. Finally, Guggenheim raised their target price on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.29.

Incyte Stock Up 0.9 %

Incyte stock traded up $0.61 during midday trading on Friday, reaching $70.14. The stock had a trading volume of 176,740 shares, compared to its average volume of 577,183. The company has a fifty day moving average price of $73.07 and a two-hundred day moving average price of $67.16. The company has a market capitalization of $13.51 billion, a P/E ratio of 501.04, a PEG ratio of 7.90 and a beta of 0.69. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. As a group, equities analysts expect that Incyte Co. will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,023 shares of company stock worth $839,711. 17.60% of the stock is owned by corporate insiders.

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.