Incyte Co. (NASDAQ:INCY) Stock Position Raised by Aviva PLC

Aviva PLC lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 1,324.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,179 shares of the biopharmaceutical company’s stock after purchasing an additional 91,289 shares during the period. Aviva PLC owned approximately 0.05% of Incyte worth $6,781,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of INCY. Quintet Private Bank Europe S.A. acquired a new stake in Incyte during the 4th quarter worth about $26,000. Global X Japan Co. Ltd. raised its holdings in shares of Incyte by 144.7% during the fourth 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 during the period. R Squared Ltd purchased a new stake in shares of Incyte in the 4th quarter valued at approximately $30,000. Groupama Asset Managment boosted its stake in Incyte by 11.4% in the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 6,105 shares during the period. Finally, Blue Trust Inc. grew its position in 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 in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INCY shares. Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price for the company. in a report on Tuesday, March 18th. Royal Bank of Canada decreased their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. Wells Fargo & Company upped their target price on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. UBS Group began coverage on shares of Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.88.

Incyte Trading Down 5.5 %

NASDAQ:INCY opened at $56.97 on Wednesday. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $67.51 and its 200-day moving average is $69.81. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 211.01, a P/E/G ratio of 0.41 and a beta of 0.89. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last released its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

Insider Activity at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 approximately $1,809,101.52. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock worth $3,322,618 in the last 90 days. 17.60% of the stock is owned by company insiders.

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.