Northern Trust Corp Purchases 150,672 Shares of Incyte Co. (NASDAQ:INCY)

Northern Trust Corp boosted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,696,123 shares of the biopharmaceutical company’s stock after buying an additional 150,672 shares during the period. Northern Trust Corp owned approximately 0.88% of Incyte worth $117,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Retirement Systems of Alabama boosted its position in shares of Incyte by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after acquiring an additional 139 shares during the last quarter. Trust Point Inc. lifted its position in Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock valued at $227,000 after purchasing an additional 156 shares during the last quarter. Bank of Nova Scotia grew its stake in Incyte by 0.8% in the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock worth $1,498,000 after buying an additional 171 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Incyte by 26.4% in the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 173 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its position in shares of Incyte by 3.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after buying an additional 195 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on INCY shares. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Stifel Nicolaus increased their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Citigroup dropped their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Incyte presently has an average rating of “Hold” and an average price target of $73.53.

Incyte Stock Performance

Incyte stock opened at $62.53 on Friday. Incyte Co. has a 1-year low of $52.81 and a 1-year high of $83.95. The firm has a market cap of $12.10 billion, a P/E ratio of 231.60, a P/E/G ratio of 0.41 and a beta of 0.89. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $62.53 and a 200-day moving average of $68.87.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share 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 analyst estimates of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. Sell-side analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Insiders Place Their Bets

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, 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. In the last ninety days, insiders sold 34,475 shares of company stock worth $2,424,751. 17.60% of the stock is currently owned by corporate insiders.

Incyte 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.