Incyte Co. (NASDAQ:INCY) Stock Holdings Trimmed by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. cut its position in shares of Incyte Co. (NASDAQ:INCY) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,690 shares of the biopharmaceutical company’s stock after selling 5,495 shares during the quarter. Incyte makes up about 3.0% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. Shikiar Asset Management Inc. owned 0.08% of Incyte worth $11,168,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Incyte by 24.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,181,269 shares of the biopharmaceutical company’s stock worth $71,617,000 after acquiring an additional 230,665 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Incyte by 6.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,553 shares of the biopharmaceutical company’s stock valued at $1,486,000 after purchasing an additional 1,434 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Incyte by 6.1% in the second quarter. Hsbc Holdings PLC now owns 1,240,952 shares of the biopharmaceutical company’s stock worth $75,179,000 after purchasing an additional 70,900 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Incyte in the second quarter worth $1,882,000. Finally, Intech Investment Management LLC raised its holdings in Incyte by 103.1% during the 2nd quarter. Intech Investment Management LLC now owns 106,153 shares of the biopharmaceutical company’s stock valued at $6,435,000 after buying an additional 53,886 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the sale, the insider now owns 23,962 shares in the company, valued at $1,692,675.68. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,023 shares of company stock worth $839,711. 17.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on INCY shares. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Morgan Stanley increased their price objective on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and issued a $52.00 price target (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Incyte presently has an average rating of “Hold” and a consensus target price of $76.29.

Incyte Stock Performance

Shares of INCY opened at $71.93 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.86 billion, a P/E ratio of 513.82, a P/E/G ratio of 0.51 and a beta of 0.71. The business’s 50 day moving average price is $72.36 and its 200-day moving average price is $67.92. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company’s revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Equities research analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Incyte 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.