Incyte Co. (NASDAQ:INCY) Shares Purchased by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT raised its stake in shares of Incyte Co. (NASDAQ:INCY) by 98.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,201,089 shares of the biopharmaceutical company’s stock after buying an additional 595,741 shares during the quarter. Incyte comprises about 2.7% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 15th biggest position. Sound Shore Management Inc. CT owned about 0.62% of Incyte worth $82,959,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in shares of Incyte during the 3rd quarter worth $156,611,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Incyte by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after purchasing an additional 364,169 shares during the period. Candriam S.C.A. lifted its stake in shares of Incyte by 27.8% during the 4th quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock worth $71,463,000 after purchasing an additional 224,919 shares during the period. LBP AM SA purchased a new position in shares of Incyte during the 4th quarter worth $13,905,000. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Incyte by 94.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 407,201 shares of the biopharmaceutical company’s stock worth $28,125,000 after purchasing an additional 197,406 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on INCY. UBS Group began coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target on the stock. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Truist Financial cut their target price on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. William Blair lowered Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Finally, Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $75.13.

Incyte Stock Up 2.2 %

Shares of Incyte stock opened at $61.92 on Monday. The business has a 50-day moving average of $70.61 and a 200-day moving average of $70.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The company has a market capitalization of $11.98 billion, a PE ratio of 229.34, a P/E/G ratio of 0.41 and a beta of 0.76. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95.

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%. As a group, equities analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Activity

In other news, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 of the company’s stock, valued at approximately $1,809,101.52. The trade was a 2.26 % 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 Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade 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 worth $3,322,618 over the last ninety days. Corporate 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.