Bridgewater Associates LP Has $23.11 Million Stock Position in Incyte Co. (NASDAQ:INCY)

Bridgewater Associates LP decreased its stake in Incyte Co. (NASDAQ:INCYFree Report) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 368,034 shares of the biopharmaceutical company’s stock after selling 2,165 shares during the period. Bridgewater Associates LP owned approximately 0.16% of Incyte worth $23,109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Fisher Asset Management LLC grew its stake in shares of Incyte by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock worth $2,773,000 after acquiring an additional 187 shares during the last quarter. Berger Financial Group Inc lifted its position in Incyte by 0.4% in the fourth quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock worth $3,797,000 after purchasing an additional 212 shares during the period. Allworth Financial LP lifted its position in Incyte by 40.0% in the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 229 shares during the period. Grandfield & Dodd LLC lifted its position in Incyte by 1.8% in the fourth quarter. Grandfield & Dodd LLC now owns 18,390 shares of the biopharmaceutical company’s stock worth $1,155,000 after purchasing an additional 319 shares during the period. Finally, MQS Management LLC lifted its position in Incyte by 6.2% in the third quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company’s stock worth $322,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Stifel Nicolaus raised their target price on Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research report on Wednesday, February 14th. Bank of America reduced their target price on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Citigroup reduced their target price on Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. BMO Capital Markets reduced their target price on Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 price objective on shares of Incyte in a report on Monday, March 25th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.69.

Get Our Latest Stock Report on INCY

Insider Buying and Selling

In related news, insider Thomas Tray sold 1,093 shares of Incyte stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the sale, the insider now directly owns 21,634 shares in the company, valued at $1,274,458.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 17.50% of the company’s stock.

Incyte Price Performance

Shares of Incyte stock traded down $0.78 during trading on Tuesday, reaching $58.62. The company’s stock had a trading volume of 925,453 shares, compared to its average volume of 2,280,254. The stock has a 50-day moving average price of $55.29 and a two-hundred day moving average price of $58.10. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. Incyte Co. has a one year low of $50.27 and a one year high of $67.36. The stock has a market capitalization of $13.16 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74.

Incyte (NASDAQ:INCYGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The business had revenue of $880.89 million during the quarter, compared to the consensus estimate of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. As a group, sell-side analysts anticipate that Incyte Co. will post 3.57 EPS for the current fiscal year.

Incyte Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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