Pictet Asset Management Holding SA Acquires 556,218 Shares of Incyte Co. (NASDAQ:INCY)

Pictet Asset Management Holding SA lifted its holdings in Incyte Co. (NASDAQ:INCY) by 73.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,313,873 shares of the biopharmaceutical company’s stock after buying an additional 556,218 shares during the quarter. Pictet Asset Management Holding SA owned about 0.68% of Incyte worth $90,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in INCY. Quintet Private Bank Europe S.A. acquired a new stake in shares of Incyte in the 4th quarter valued at $26,000. Global X Japan Co. Ltd. boosted its holdings in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Incyte in the third quarter worth about $30,000. R Squared Ltd bought a new stake in Incyte during the 4th quarter worth about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Incyte during the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on INCY. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. UBS Group began coverage on shares of Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price for the company. Royal Bank of Canada cut their price target on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus lifted their price objective on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, William Blair lowered Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Incyte has a consensus rating of “Hold” and a consensus target price of $74.88.

Insider Transactions at Incyte

In other news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock valued at $3,322,618 in the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

Incyte Trading Down 0.1 %

INCY opened at $60.60 on Friday. The firm’s fifty day simple moving average is $69.53 and its 200 day simple moving average is $70.09. The stock has a market capitalization of $11.73 billion, a P/E ratio of 224.45, 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. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data 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 return on equity of 0.05% and a net margin of 0.77%. As a group, research analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Incyte 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.