Bank Julius Baer & Co. Ltd Zurich Sells 1,224 Shares of Incyte Co. (NASDAQ:INCY)

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 67.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 603 shares of the biopharmaceutical company’s stock after selling 1,224 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Incyte were worth $46,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in INCY. Point72 Asset Management L.P. bought a new position in shares of Incyte during the third quarter valued at approximately $156,611,000. Mizuho Securities USA LLC increased its stake in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after purchasing an additional 1,985,726 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after purchasing an additional 364,169 shares in the last quarter. Candriam S.C.A. grew its holdings in shares of Incyte by 27.8% during the fourth quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock valued at $71,463,000 after buying an additional 224,919 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Incyte by 94.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 407,201 shares of the biopharmaceutical company’s stock valued at $28,125,000 after buying an additional 197,406 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Wells Fargo & Company increased their price target on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Finally, StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Incyte has a consensus rating of “Hold” and an average price target of $75.25.

Insiders Place Their Bets

In other news, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,320 shares of company stock worth $2,072,849. Company insiders own 17.60% of the company’s stock.

Incyte Stock Down 4.3 %

INCY opened at $68.07 on Wednesday. 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 1-year low of $50.35 and a 1-year high of $83.95. The company has a market capitalization of $13.17 billion, a PE ratio of 252.12, a PEG ratio of 0.41 and a beta of 0.76. The firm’s 50 day simple moving average is $71.85 and its two-hundred day simple moving average is $70.29.

Incyte (NASDAQ:INCY) last released its quarterly 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 return on equity of 0.05% and a net margin of 0.77%. As a group, equities analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

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.