Point72 Hong Kong Ltd Increases Holdings in Incyte Co. (NASDAQ:INCY)

Point72 Hong Kong Ltd grew its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2,274.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,965 shares of the biopharmaceutical company’s stock after buying an additional 67,019 shares during the period. Point72 Hong Kong Ltd’s holdings in Incyte were worth $4,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Retirement Systems of Alabama grew its holdings in shares of Incyte by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after acquiring an additional 139 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Incyte by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company’s stock worth $1,410,000 after acquiring an additional 150 shares during the period. Trust Point Inc. grew its holdings in shares of Incyte by 5.0% in the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after acquiring an additional 156 shares during the period. Bank of Nova Scotia grew its holdings in shares of 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 acquiring an additional 171 shares during the period. Finally, Mather Group LLC. grew 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 acquiring an additional 173 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Up 0.6%

INCY stock opened at $61.16 on Thursday. Incyte Co. has a 52 week low of $53.56 and a 52 week high of $83.95. The company has a market cap of $11.84 billion, a price-to-earnings ratio of 226.53, a PEG ratio of 0.41 and a beta of 0.68. 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 business has a fifty day simple moving average of $60.75 and a 200-day simple moving average of $68.56.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. During the same period in the prior year, the firm earned $0.64 EPS. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Analyst Ratings Changes

INCY has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on Incyte from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 30th. Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research note on Tuesday, March 18th. Truist Financial reduced their target price on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company upped their target price on Incyte from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.53.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction on Friday, March 14th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,475 shares of company stock worth $2,424,751. Corporate insiders own 17.80% of the company’s stock.

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.