MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 4,391 Shares of Incyte Co. (NASDAQ:INCY)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in shares of Incyte Co. (NASDAQ:INCY) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,944 shares of the biopharmaceutical company’s stock after selling 4,391 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Incyte were worth $3,583,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Retirement Systems of Alabama raised its stake in shares of Incyte by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after purchasing an additional 139 shares during the period. Trust Point Inc. raised its stake in shares of Incyte by 5.0% during the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after purchasing an additional 156 shares during the period. Bank of Nova Scotia raised its stake in shares of Incyte by 0.8% during the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock worth $1,498,000 after purchasing an additional 171 shares during the period. Mather Group LLC. raised its stake in shares of Incyte by 26.4% during the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 173 shares during the period. Finally, Catalyst Financial Partners LLC raised its stake in shares of Incyte by 2.7% during the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock worth $518,000 after purchasing an additional 200 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Up 0.8%

INCY stock opened at $63.81 on Tuesday. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $12.35 billion, a PE ratio of 236.34, a PEG ratio of 0.41 and a beta of 0.68. Incyte Co. has a twelve month low of $53.56 and a twelve month high of $83.95. The stock has a 50-day simple moving average of $60.41 and a two-hundred day simple moving average of $68.30.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, equities analysts predict that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Activity

In related news, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. The trade was a 2.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,475 shares of company stock worth $2,424,751. 17.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of recent analyst reports. William Blair cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. lowered their target price on Incyte from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Truist Financial lowered their target price on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Morgan Stanley decreased their price objective on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, March 24th. Finally, Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus target price of $73.53.

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.