Incyte Co. (NASDAQ:INCY) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its position in Incyte Co. (NASDAQ:INCY) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,916 shares of the biopharmaceutical company’s stock after selling 2,721 shares during the period. Mediolanum International Funds Ltd’s holdings in Incyte were worth $1,428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Trust boosted its holdings in Incyte by 3.2% during the fourth quarter. Legacy Trust now owns 49,451 shares of the biopharmaceutical company’s stock worth $3,416,000 after buying an additional 1,511 shares in the last quarter. Forsta AP Fonden boosted its position in Incyte by 1.7% during the fourth quarter. Forsta AP Fonden now owns 104,700 shares of the biopharmaceutical company’s stock worth $7,232,000 after acquiring an additional 1,800 shares during the last quarter. R Squared Ltd acquired a new stake in Incyte during the fourth quarter worth approximately $30,000. VCI Wealth Management LLC acquired a new stake in Incyte during the fourth quarter worth approximately $1,025,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in Incyte during the fourth quarter worth approximately $311,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the transaction, the executive vice president now directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,375 shares of company stock worth $1,737,578. 17.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on INCY shares. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and raised their price target for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Wells Fargo & Company raised their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Finally, Citigroup lifted their price target on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus target price of $75.71.

Incyte Stock Up 0.5 %

INCY stock opened at $74.16 on Monday. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a market capitalization of $14.29 billion, a price-to-earnings ratio of 529.75, a price-to-earnings-growth ratio of 0.54 and a beta of 0.71. The firm’s 50-day moving average is $71.83 and its two-hundred day moving average is $68.85. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

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.