D. E. Shaw & Co. Inc. Sells 532,033 Shares of Incyte Co. (NASDAQ:INCY)

D. E. Shaw & Co. Inc. decreased its position in Incyte Co. (NASDAQ:INCY) by 48.0% in the fourth quarter, Holdings Channel reports. The firm owned 576,540 shares of the biopharmaceutical company’s stock after selling 532,033 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Incyte were worth $39,822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new position in Incyte during the fourth quarter valued at approximately $26,000. Global X Japan Co. Ltd. boosted its position in Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd purchased a new position in shares of Incyte in the 4th quarter valued at $30,000. Blue Trust Inc. lifted its stake in shares of Incyte by 124.6% during the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in Incyte during the fourth quarter valued at about $42,000. Institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of 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 shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. Stifel Nicolaus upped their price target on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada upped their target price on Incyte from $64.00 to $67.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $73.53.

Incyte Trading Down 1.3 %

NASDAQ INCY opened at $58.98 on Friday. Incyte Co. has a 1 year low of $53.56 and a 1 year 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. The company has a market capitalization of $11.42 billion, a PE ratio of 218.45, a P/E/G ratio of 0.41 and a beta of 0.68. The company has a fifty day moving average of $61.31 and a 200 day moving average of $68.67.

Incyte (NASDAQ:INCY) last issued its earnings results 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Research analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction on Friday, March 14th. The shares were 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 directly owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,809,101.52. This represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,475 shares of company stock worth $2,424,751. Corporate insiders own 17.60% of the company’s stock.

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.