DekaBank Deutsche Girozentrale Reduces Stock Position in Incyte Co. (NASDAQ:INCY)

DekaBank Deutsche Girozentrale trimmed its position in Incyte Co. (NASDAQ:INCY) by 6.4% in the 4th quarter, HoldingsChannel reports. The firm owned 80,819 shares of the biopharmaceutical company’s stock after selling 5,496 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Incyte were worth $6,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in INCY. Chiron Capital Management LLC purchased a new stake in Incyte in the third quarter valued at approximately $27,000. Benjamin F. Edwards & Company Inc. lifted its stake in Incyte by 49.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 383 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 127 shares during the period. Bessemer Group Inc. lifted its stake in Incyte by 121.0% during the 4th quarter. Bessemer Group Inc. now owns 431 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 236 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Incyte by 74.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 263 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Incyte in the fourth quarter worth $56,000. 91.37% of the stock is owned by hedge funds and other institutional investors.

Incyte stock opened at $79.96 on Friday. The stock has a market capitalization of $17.58 billion, a P/E ratio of -50.93, a P/E/G ratio of 0.98 and a beta of 0.96. The company’s fifty day moving average price is $80.15 and its 200 day moving average price is $85.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.53 and a current ratio of 3.56. Incyte Co. has a 1 year low of $75.52 and a 1 year high of $110.36.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 8th. The biopharmaceutical company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.30. The business had revenue of $788.50 million for the quarter, compared to the consensus estimate of $654.08 million. Incyte had a negative net margin of 13.62% and a negative return on equity of 13.66%. The company’s revenue was up 36.1% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. Sell-side analysts predict that Incyte Co. will post -1.45 EPS for the current year.

A number of research analysts recently issued reports on INCY shares. Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating in a research report on Monday, January 4th. SVB Leerink cut Incyte from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $89.00 to $70.00 in a report on Wednesday, February 10th. Truist started coverage on Incyte in a report on Thursday, January 7th. They set a “buy” rating and a $120.00 target price on the stock. Morgan Stanley decreased their price target on Incyte from $93.00 to $86.00 and set an “equal weight” rating for the company in a report on Monday, April 5th. Finally, TheStreet cut shares of Incyte from a “b-” rating to a “c” rating in a research note on Monday, March 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Incyte currently has a consensus rating of “Hold” and a consensus target price of $101.50.

In related news, EVP Yao Wenqing sold 21,545 shares of the business’s stock in a transaction that occurred on Monday, January 25th. The stock was sold at an average price of $100.00, for a total transaction of $2,154,500.00. Following the completion of the sale, the executive vice president now directly owns 145,343 shares in the company, valued at $14,534,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Herve Hoppenot acquired 12,925 shares of Incyte stock in a transaction that occurred on Tuesday, February 23rd. The stock was purchased at an average cost of $77.37 per share, with a total value of $1,000,007.25. Over the last quarter, insiders sold 41,941 shares of company stock worth $3,808,402. 16.10% of the stock is currently owned by insiders.

Incyte Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor for the treatment of adults; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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