Union Bancaire Privee UBP SA Makes New Investment in Incyte Co. (NASDAQ:INCY)

Union Bancaire Privee UBP SA bought a new stake in Incyte Co. (NASDAQ:INCY) in the fourth quarter, Holdings Channel reports. The institutional investor bought 4,500 shares of the biopharmaceutical company’s stock, valued at approximately $311,000.

Several other hedge funds have also made changes to their positions in INCY. Point72 Asset Management L.P. acquired a new position in Incyte in the 3rd quarter valued at about $156,611,000. Mizuho Securities USA LLC increased its holdings in shares of Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after purchasing an additional 1,985,726 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after purchasing an additional 364,169 shares during the last quarter. Bridgewater Associates LP raised its stake in shares of Incyte by 142.8% during the third quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock worth $20,401,000 after purchasing an additional 181,504 shares during the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of Incyte by 1,342.5% during the fourth quarter. Ieq Capital LLC now owns 138,536 shares of the biopharmaceutical company’s stock worth $9,569,000 after purchasing an additional 128,932 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INCY. UBS Group assumed coverage on shares of Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. Wells Fargo & Company boosted their target price on 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 increased their target price on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. BMO Capital Markets restated an “underperform” rating and issued a $52.00 price target (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Finally, Citigroup cut their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $75.25.

Incyte Trading Up 2.6 %

Shares of NASDAQ:INCY opened at $74.01 on Tuesday. The stock has a market capitalization of $14.32 billion, a price-to-earnings ratio of 274.12, a PEG ratio of 0.41 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The company has a 50 day moving average price of $71.32 and a 200 day moving average price of $69.60. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY) last announced its 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 return on equity of 0.05% and a net margin of 0.77%. On average, research analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Transactions at Incyte

In related news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,695 shares of company stock valued at $1,444,356. 17.60% of the stock is owned by 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.