ING Groep NV Makes New Investment in Incyte Co. (NASDAQ:INCY)

ING Groep NV bought a new stake in shares of Incyte Co. (NASDAQ:INCY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 20,423 shares of the biopharmaceutical company’s stock, valued at approximately $1,411,000.

Several other hedge funds also recently bought and sold shares of INCY. Global X Japan Co. Ltd. lifted its position in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd bought a new stake in Incyte during the 4th quarter valued at approximately $30,000. Brooklyn Investment Group purchased a new position in Incyte in the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Incyte in the 3rd quarter worth approximately $33,000. Finally, Blue Trust Inc. grew its holdings in Incyte by 124.6% during 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 own 96.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on INCY shares. Citigroup lowered their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Stifel Nicolaus raised their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. 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. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $75.25.

Insiders Place Their Bets

In related news, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were 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 directly owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock worth $1,444,356 over the last quarter. Company insiders own 17.60% of the company’s stock.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $72.05 on Monday. 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 has a market capitalization of $13.94 billion, a price-to-earnings ratio of 266.87, a PEG ratio of 0.41 and a beta of 0.70. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The firm’s 50-day moving average is $71.24 and its 200 day moving average is $69.52.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results 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%. Research analysts predict that Incyte Co. will post 4.86 EPS for the current 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.