Quintet Private Bank Europe S.A. Takes Position in Incyte Co. (NASDAQ:INCY)

Quintet Private Bank Europe S.A. purchased a new stake in Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 370 shares of the biopharmaceutical company’s stock, valued at approximately $26,000.

Other hedge funds have also made changes to their positions in the company. Haverford Trust Co raised its holdings in shares of Incyte by 1.8% in the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after purchasing an additional 135 shares in the last quarter. Retirement Systems of Alabama grew its position in 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 last quarter. Trust Point Inc. boosted its holdings in shares of Incyte by 5.0% in the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock valued at $227,000 after acquiring an additional 156 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Incyte by 26.4% in the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 173 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in shares of Incyte by 3.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after acquiring an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

INCY has been the subject of several recent analyst reports. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. William Blair restated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Citigroup decreased their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. One 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.25.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $70.26 on Tuesday. The business’s fifty day moving average price is $71.78 and its two-hundred day moving average price is $70.02. 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 stock has a market capitalization of $13.60 billion, a price-to-earnings ratio of 260.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.70. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data 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, analysts predict that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, 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. Over the last three months, insiders have sold 27,721 shares of company stock worth $2,030,925. Company insiders own 17.60% of the company’s stock.

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.