Forvis Mazars Wealth Advisors LLC Buys 3,453 Shares of Incyte Co. (NASDAQ:INCY)

Forvis Mazars Wealth Advisors LLC raised its stake in shares of Incyte Co. (NASDAQ:INCY) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,003 shares of the biopharmaceutical company’s stock after acquiring an additional 3,453 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Incyte were worth $3,177,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in INCY. Point72 Asset Management L.P. acquired a new stake in Incyte during the 3rd quarter valued at $156,611,000. Mizuho Securities USA LLC grew its holdings in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after purchasing an additional 1,985,726 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Incyte by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after buying an additional 364,169 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Incyte by 5.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock valued at $83,680,000 after buying an additional 70,596 shares during the last quarter. Finally, Barclays PLC lifted its position in Incyte by 8.1% during the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock worth $68,208,000 after buying an additional 77,542 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and raised their price objective for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. Wells Fargo & Company raised their price target on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Oppenheimer upped their price objective on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lifted 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, Citigroup cut their price target on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Incyte has a consensus rating of “Hold” and a consensus price target of $75.25.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction that occurred on 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 directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,695 shares of company stock valued at $1,444,356. Company insiders own 17.60% of the company’s stock.

Incyte Stock Up 0.9 %

Shares of NASDAQ INCY opened at $72.05 on Monday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. 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 stock has a market cap of $13.94 billion, a P/E ratio of 266.87, a P/E/G ratio of 0.41 and a beta of 0.70. The firm has a 50 day moving average price of $71.24 and a 200 day moving average price of $69.52.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (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%. Analysts expect 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.