2,988 Shares in Incyte Co. (NASDAQ:INCY) Acquired by Prudential PLC

Prudential PLC purchased a new stake in shares of Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,988 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Several other hedge funds also recently modified their holdings of INCY. CWA Asset Management Group LLC bought a new position in shares of Incyte during the 4th quarter valued at about $1,933,000. Orion Portfolio Solutions LLC bought a new stake in Incyte during the third quarter worth approximately $770,000. Tri Ri Asset Management Corp bought a new position in shares of Incyte in the third quarter valued at $3,292,000. Pallas Capital Advisors LLC bought a new position in shares of Incyte in the fourth quarter valued at $1,006,000. Finally, SG Americas Securities LLC lifted its position in shares of Incyte by 262.2% during the 4th quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company’s stock valued at $6,866,000 after acquiring an additional 71,963 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,827 shares of company stock worth $3,322,618. Company insiders own 17.60% of the company’s stock.

Incyte Stock Performance

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

Incyte (NASDAQ:INCY) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) 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%. On average, equities analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on INCY. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. William Blair cut Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus upped their price target on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus price target of $74.88.

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.