Incyte Co. (NASDAQ:INCY) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Incyte Co. (NASDAQ:INCY) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,536,238 shares of the biopharmaceutical company’s stock after purchasing an additional 156,773 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Incyte were worth $106,108,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. bought a new stake in shares of Incyte in the 4th quarter worth $26,000. Global X Japan Co. Ltd. raised its position in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd acquired a new stake in Incyte in the 4th quarter valued at about $30,000. Raiffeisen Bank International AG acquired a new stake in Incyte in the 4th quarter valued at about $34,000. Finally, Blue Trust Inc. boosted its position in shares of Incyte by 124.6% during the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 329 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on INCY shares. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a report on Tuesday, March 18th. Morgan Stanley dropped their price target on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. Royal Bank of Canada raised their price objective on Incyte from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 30th. JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. cut their target price on Incyte from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.53.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This represents a 37.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was 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 of the company’s stock, valued at $1,809,101.52. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,475 shares of company stock valued at $2,424,751. Corporate insiders own 17.80% of the company’s stock.

Incyte Stock Down 0.4%

NASDAQ:INCY opened at $64.25 on Friday. The business’s fifty day moving average price is $60.44 and its 200 day moving average price is $68.09. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 237.97, a PEG ratio of 0.41 and a beta of 0.68. 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 $53.56 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY) last issued 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 company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, sell-side analysts forecast that Incyte Co. will post 4.86 earnings per share for the current fiscal 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.