Incyte Co. (NASDAQ:INCY) Shares Sold by Sector Gamma AS

Sector Gamma AS reduced its position in Incyte Co. (NASDAQ:INCY) by 7.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 398,699 shares of the biopharmaceutical company’s stock after selling 33,846 shares during the period. Incyte accounts for approximately 6.1% of Sector Gamma AS’s investment portfolio, making the stock its 5th largest holding. Sector Gamma AS’s holdings in Incyte were worth $25,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Intact Investment Management Inc. acquired a new stake in shares of Incyte in the 4th quarter valued at $540,000. Russell Investments Group Ltd. grew its stake in shares of Incyte by 29.3% during the fourth quarter. Russell Investments Group Ltd. now owns 963,090 shares of the biopharmaceutical company’s stock worth $60,465,000 after purchasing an additional 217,979 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Incyte during the fourth quarter worth $251,000. Syon Capital LLC acquired a new stake in shares of Incyte during the fourth quarter worth $243,000. Finally, Cognios Beta Neutral Large Cap Fund LP grew its stake in shares of Incyte by 5.3% during the fourth quarter. Cognios Beta Neutral Large Cap Fund LP now owns 9,318 shares of the biopharmaceutical company’s stock worth $585,000 after purchasing an additional 468 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Price Performance

Shares of INCY traded up $0.50 during trading hours on Friday, reaching $51.68. The stock had a trading volume of 1,564,403 shares, compared to its average volume of 1,608,044. The stock has a market capitalization of $11.60 billion, a PE ratio of 19.50, a PEG ratio of 1.18 and a beta of 0.65. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $75.74. The company’s 50-day moving average is $56.78 and its two-hundred day moving average is $57.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 earnings per share. Research analysts expect that Incyte Co. will post 3.84 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Bank of America decreased their price objective on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. BMO Capital Markets lifted their target price on Incyte from $58.00 to $64.00 and gave the stock a “market perform” rating in a report on Wednesday, February 14th. Citigroup reduced their target price on Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. JMP Securities lowered Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Finally, Truist Financial cut their price target on Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.50.

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.