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

Sector Gamma AS trimmed its holdings in Incyte Co. (NASDAQ:INCY) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 398,699 shares of the biopharmaceutical company’s stock after selling 33,846 shares during the quarter. Incyte comprises approximately 6.1% of Sector Gamma AS’s portfolio, making the stock its 5th biggest position. Sector Gamma AS owned approximately 0.18% of Incyte worth $25,034,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INCY. CWM LLC boosted its holdings in shares of Incyte by 85.2% in the third quarter. CWM LLC now owns 5,129 shares of the biopharmaceutical company’s stock valued at $296,000 after acquiring an additional 2,360 shares during the period. Czech National Bank raised its stake in shares of Incyte by 48.3% during the third quarter. Czech National Bank now owns 32,507 shares of the biopharmaceutical company’s stock worth $1,878,000 after purchasing an additional 10,588 shares during the last quarter. Grimes & Company Inc. raised its stake in shares of Incyte by 1.4% during the third quarter. Grimes & Company Inc. now owns 189,478 shares of the biopharmaceutical company’s stock worth $10,946,000 after purchasing an additional 2,562 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Incyte by 12.3% during the third quarter. Commonwealth Equity Services LLC now owns 20,009 shares of the biopharmaceutical company’s stock worth $1,156,000 after purchasing an additional 2,197 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Incyte by 5.8% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 106,964 shares of the biopharmaceutical company’s stock worth $6,179,000 after purchasing an additional 5,900 shares during the last quarter. 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. 1,564,403 shares of the company traded hands, compared to its average volume of 1,608,044. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $11.60 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.18 and a beta of 0.65. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $75.74. The stock has a fifty day simple moving average of $56.78 and a 200 day simple moving average of $57.70.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The company had revenue of $1.01 billion for 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 firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. As a group, research analysts predict that Incyte Co. will post 3.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup cut their price target on Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. BMO Capital Markets increased their price objective on Incyte from $58.00 to $64.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $65.00 price objective on shares of Incyte in a research report on Monday, March 25th. Finally, Cantor Fitzgerald initiated coverage on Incyte in a research report on Tuesday. They issued a “neutral” rating for the company. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.