Northwest & Ethical Investments L.P. Sells 15,820 Shares of Incyte Co. (NASDAQ:INCY)

Northwest & Ethical Investments L.P. trimmed its holdings in shares of Incyte Co. (NASDAQ:INCY) by 51.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,944 shares of the biopharmaceutical company’s stock after selling 15,820 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Incyte were worth $1,032,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. bought a new stake in Incyte during the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. grew its holdings in Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the last quarter. Brooklyn Investment Group bought a new stake in Incyte during the 3rd quarter worth approximately $30,000. R Squared Ltd bought a new stake in Incyte during the 4th quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Incyte in the 3rd quarter worth approximately $33,000. 96.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INCY. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Wells Fargo & Company boosted their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Stifel Nicolaus boosted their price target 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. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, UBS Group began coverage on shares of Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $75.13.

Incyte Stock Performance

INCY opened at $61.92 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average price is $70.61 and its two-hundred day moving average price is $70.11. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 229.34, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last released 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%. On average, analysts expect that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Transactions at Incyte

In other news, EVP Sheila A. Denton sold 14,069 shares of the company’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 sale, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. This represents a 35.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock worth $3,322,618 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

About Incyte

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.