Incyte Co. (NASDAQ:INCY) Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Incyte Co. (NASDAQ:INCY) by 29.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,609,220 shares of the biopharmaceutical company’s stock after buying an additional 364,169 shares during the period. Charles Schwab Investment Management Inc. owned 0.84% of Incyte worth $106,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Acadian Asset Management LLC raised its stake in Incyte by 28.0% during the 2nd 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 in the last quarter. LSV Asset Management increased its holdings in shares of Incyte by 0.5% during the second quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock valued at $167,911,000 after purchasing an additional 15,115 shares during the period. Pacer Advisors Inc. raised its stake in shares of Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after purchasing an additional 2,676,851 shares in the last quarter. AQR Capital Management LLC lifted its holdings 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 worth $159,905,000 after purchasing an additional 1,101,041 shares during the period. Finally, Mizuho Securities USA LLC grew its position in Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after buying an additional 1,985,726 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value 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. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock worth $856,166 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INCY shares. Truist Financial reaffirmed a “hold” rating and issued a $74.00 price target (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Wolfe Research assumed coverage on Incyte in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price for the company. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. William Blair restated an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $77.16.

Incyte Stock Up 2.5 %

Shares of Incyte stock opened at $73.52 on Tuesday. 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 1 year low of $50.35 and a 1 year high of $83.95. The stock has a 50-day moving average price of $70.04 and a 200 day moving average price of $64.69. The company has a market cap of $14.16 billion, a P/E ratio of 525.18, a P/E/G ratio of 8.27 and a beta of 0.71.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company 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%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. As a group, analysts expect that Incyte Co. will post 0.4 EPS for the current fiscal 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.