Union Bancaire Privee UBP SA Purchases Shares of 4,500 Incyte Co. (NASDAQ:INCY)

Union Bancaire Privee UBP SA acquired a new position in shares of Incyte Co. (NASDAQ:INCY) during the 4th quarter, Holdings Channel.com reports. The fund acquired 4,500 shares of the biopharmaceutical company’s stock, valued at approximately $311,000.

Other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new position in Incyte in the third quarter worth $156,611,000. Mizuho Securities USA LLC lifted its holdings in shares of Incyte by 13,814.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after acquiring an additional 1,985,726 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Incyte by 2,486.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock valued at $23,923,000 after acquiring an additional 379,390 shares during the period. Charles Schwab Investment Management Inc. raised its position in Incyte by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after purchasing an additional 364,169 shares in the last quarter. Finally, Bridgewater Associates LP raised its position in Incyte by 142.8% in the third quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock worth $20,401,000 after purchasing an additional 181,504 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,375 shares of company stock valued at $1,737,578. 17.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on INCY shares. Morgan Stanley upped their price objective on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and boosted their target price for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. BMO Capital Markets reiterated an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price target on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.71.

Incyte Price Performance

Incyte stock opened at $73.15 on Wednesday. The business’s 50-day simple moving average is $71.60 and its 200 day simple moving average is $68.61. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 522.54, a P/E/G ratio of 0.53 and a beta of 0.71. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. As a group, research analysts anticipate that Incyte Co. will post 0.39 earnings per share for the current year.

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.