Incyte Co. (NASDAQ:INCY) Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC increased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 35.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,453 shares of the biopharmaceutical company’s stock after purchasing an additional 9,457 shares during the quarter. NEOS Investment Management LLC’s holdings in Incyte were worth $2,518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cerity Partners LLC raised its stake in shares of Incyte by 40.7% in the 3rd quarter. Cerity Partners LLC now owns 19,157 shares of the biopharmaceutical company’s stock valued at $1,266,000 after acquiring an additional 5,537 shares during the period. Fisher Asset Management LLC increased its holdings in Incyte by 24.5% in the 3rd quarter. Fisher Asset Management LLC now owns 11,522 shares of the biopharmaceutical company’s stock valued at $762,000 after purchasing an additional 2,264 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Incyte by 33.3% in the third quarter. The Manufacturers Life Insurance Company now owns 165,537 shares of the biopharmaceutical company’s stock valued at $10,942,000 after purchasing an additional 41,348 shares during the period. Brooklyn Investment Group acquired a new position in Incyte during the third quarter worth $30,000. Finally, CreativeOne Wealth LLC purchased a new position in shares of Incyte during the third quarter worth $457,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on INCY. Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research note on Tuesday, March 18th. Citigroup reduced their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus raised their price objective on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company upped their target price 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. Finally, StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.88.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This represents a 37.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock valued at $3,322,618 in the last ninety days. Insiders own 17.60% of the company’s stock.

Incyte Trading Down 0.1 %

NASDAQ:INCY opened at $60.60 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The stock has a market cap of $11.73 billion, a P/E ratio of 224.45, a P/E/G ratio of 0.41 and a beta of 0.76. The stock has a 50-day simple moving average of $69.53 and a 200-day simple moving average of $70.04.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

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.