Alliancebernstein L.P. Has $18.93 Million Position in Incyte Co. (NASDAQ:INCY)

Alliancebernstein L.P. boosted its stake in shares of Incyte Co. (NASDAQ:INCY) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 274,098 shares of the biopharmaceutical company’s stock after acquiring an additional 27,900 shares during the period. Alliancebernstein L.P.’s holdings in Incyte were worth $18,932,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Quintet Private Bank Europe S.A. acquired a new position in shares of Incyte in the fourth quarter worth $26,000. Global X Japan Co. Ltd. increased its position 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 purchasing an additional 230 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Incyte during the 4th quarter worth about $30,000. Groupama Asset Managment lifted its holdings in shares of Incyte by 11.4% during the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 6,105 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 329 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Shares of Incyte stock opened at $60.29 on Tuesday. The firm has a fifty day moving average price of $68.17 and a two-hundred day moving average price of $69.96. 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 current ratio of 1.97 and a quick ratio of 1.94. The company has a market cap of $11.67 billion, a PE ratio of 223.30, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INCY. William Blair cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. Wells Fargo & Company lifted their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. UBS Group assumed coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Finally, JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. One investment 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. Based on data from MarketBeat, Incyte currently has an average rating of “Hold” and a consensus target price of $74.88.

Insider Activity at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,809,101.52. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by corporate insiders.

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.