Charles Schwab Investment Management Inc. Grows Stock Holdings in Incyte Co. (NASDAQ:INCY)

Charles Schwab Investment Management Inc. grew its stake in Incyte Co. (NASDAQ:INCY) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,643,067 shares of the biopharmaceutical company’s stock after acquiring an additional 33,847 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Incyte were worth $113,487,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte in the 4th quarter worth $26,000. Global X Japan Co. Ltd. raised its holdings in shares of 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 in the last quarter. R Squared Ltd purchased a new stake in Incyte in the fourth quarter worth about $30,000. Brooklyn Investment Group bought a new position in Incyte during the 3rd quarter worth about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte during the 3rd quarter valued at about $33,000. Institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the transaction, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sheila A. Denton sold 599 shares of the company’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 completion of 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,320 shares of company stock worth $2,072,849. Company insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INCY. Royal Bank of Canada lowered their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. JMP Securities restated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. UBS Group started coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. Finally, Stifel Nicolaus lifted their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. One research 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’s stock. According to MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average target price of $75.25.

Incyte Stock Performance

Shares of INCY stock opened at $70.79 on Friday. The business has a fifty day moving average of $71.82 and a 200 day moving average of $70.16. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. 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 firm has a market capitalization of $13.70 billion, a price-to-earnings ratio of 262.19, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) 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 expect that Incyte Co. will post 4.86 earnings per share for the current 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.