Fisher Asset Management LLC Has $2 Million Stake in Incyte Co. (NASDAQ:INCY)

Fisher Asset Management LLC raised its stake in shares of Incyte Co. (NASDAQ:INCY) by 151.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,923 shares of the biopharmaceutical company’s stock after buying an additional 17,401 shares during the quarter. Fisher Asset Management LLC’s holdings in Incyte were worth $1,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of INCY. Point72 Asset Management L.P. acquired a new position in Incyte during the third quarter valued at approximately $156,611,000. Mizuho Securities USA LLC grew its holdings in shares of Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after buying an additional 1,985,726 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Incyte by 29.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after buying an additional 364,169 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Incyte by 7.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company’s stock worth $77,877,000 after buying an additional 78,827 shares during the period. Finally, Barclays PLC lifted its holdings in Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock worth $68,208,000 after acquiring an additional 77,542 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Incyte Stock Performance

NASDAQ INCY opened at $69.81 on Thursday. The firm has a market capitalization of $13.51 billion, a P/E ratio of 258.57, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $71.77 and its two-hundred day moving average price is $70.07. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95.

Incyte (NASDAQ:INCY) last issued its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, research analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on INCY. Wells Fargo & Company raised their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Royal Bank of Canada dropped their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 11th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Finally, Stifel Nicolaus upped their target price on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $75.25.

Insider Activity

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction 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 $1,914,561.36. This trade represents a 35.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Tray sold 650 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the transaction, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,721 shares of company stock valued at $2,030,925 over the last three months. Insiders own 17.60% of the company’s stock.

About Incyte

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.