Incyte Co. (NASDAQ:INCY) Shares Purchased by First Financial Bankshares Inc

First Financial Bankshares Inc boosted its position in shares of Incyte Co. (NASDAQ:INCY) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 40,067 shares of the biopharmaceutical company’s stock after acquiring an additional 265 shares during the quarter. First Financial Bankshares Inc’s holdings in Incyte were worth $2,767,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in INCY. Quintet Private Bank Europe S.A. purchased a new position in shares of Incyte in the fourth quarter worth about $26,000. Global X Japan Co. Ltd. increased its holdings in Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the period. Brooklyn Investment Group purchased a new position in Incyte during the 3rd quarter worth approximately $30,000. R Squared Ltd acquired a new stake in Incyte during the 4th quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Trading Down 3.2 %

Shares of INCY stock opened at $60.00 on Wednesday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The stock’s fifty day moving average is $71.29 and its two-hundred day moving average is $70.27. The firm has a market capitalization of $11.61 billion, a P/E ratio of 222.23, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly 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 return on equity of 0.05% and a net margin of 0.77%. Research analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on INCY. UBS Group initiated coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price for the company. Guggenheim cut Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a research report on Tuesday. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Royal Bank of Canada decreased their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus raised their price target on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.13.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sheila A. Denton sold 599 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were 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 approximately $1,809,101.52. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,827 shares of company stock worth $3,322,618 in the last ninety days. Insiders own 17.60% of the company’s stock.

Incyte Company 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.