Incyte Co. (NASDAQ:INCY) Shares Bought by Woodline Partners LP

Woodline Partners LP grew its stake in shares of Incyte Co. (NASDAQ:INCY) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 800,088 shares of the biopharmaceutical company’s stock after purchasing an additional 5,315 shares during the quarter. Woodline Partners LP’s holdings in Incyte were worth $55,262,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quintet Private Bank Europe S.A. bought a new stake in shares of Incyte in the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. lifted its holdings in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 230 shares during the last quarter. R Squared Ltd bought a new stake in shares of Incyte in the 4th quarter worth approximately $30,000. Raiffeisen Bank International AG bought a new stake in shares of Incyte in the 4th quarter worth approximately $34,000. Finally, Blue Trust Inc. lifted its holdings in shares of Incyte by 124.6% in 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 during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Up 0.8%

Shares of INCY stock opened at $63.81 on Tuesday. Incyte Co. has a 1 year low of $53.56 and a 1 year high of $83.95. The stock has a market cap of $12.35 billion, a PE ratio of 236.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The business’s fifty day moving average is $60.41 and its 200-day moving average is $68.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

Incyte (NASDAQ:INCY) last issued 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $996.17 million. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Incyte from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. William Blair downgraded Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. Truist Financial cut their price target on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company raised their price target on Incyte from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Finally, JMP Securities reaffirmed 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 assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.53.

Insider Activity

In related news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. The trade was a 35.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte 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 transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,475 shares of company stock worth $2,424,751. 17.80% of the stock is owned by company insiders.

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.