Jupiter Asset Management Ltd. Decreases Stock Position in Incyte Co. (NASDAQ:INCY)

Jupiter Asset Management Ltd. lessened its position in Incyte Co. (NASDAQ:INCY) by 79.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 145,593 shares of the biopharmaceutical company’s stock after selling 555,931 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Incyte were worth $10,056,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Incyte by 161.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 787 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Incyte by 8.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,922 shares of the biopharmaceutical company’s stock valued at $340,000 after acquiring an additional 395 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of Incyte by 3.2% in the fourth quarter. Inspire Advisors LLC now owns 10,930 shares of the biopharmaceutical company’s stock valued at $755,000 after acquiring an additional 341 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Incyte by 6.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 21,993 shares of the biopharmaceutical company’s stock valued at $1,519,000 after acquiring an additional 1,344 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Incyte by 104.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 327,272 shares of the biopharmaceutical company’s stock worth $22,605,000 after buying an additional 166,857 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 0.5 %

Shares of NASDAQ INCY opened at $67.73 on Thursday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a market cap of $13.11 billion, a P/E ratio of 250.86, a P/E/G 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 stock has a fifty day moving average price of $71.82 and a 200 day moving average price of $70.27.

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

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of analyst reports. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Stifel Nicolaus lifted their price objective on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. UBS Group started coverage on Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. Finally, Royal Bank of Canada reduced their target price on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus target price of $75.25.

Insiders Place Their Bets

In other news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,809,101.52. This trade represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,320 shares of company stock valued at $2,072,849 over the last quarter. Insiders own 17.60% of the company’s stock.

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.