abrdn plc Lowers Position in Incyte Co. (NASDAQ:INCY)

abrdn plc decreased its position in Incyte Co. (NASDAQ:INCYGet Rating) by 15.8% during the 1st quarter, Holdings Channel reports. The fund owned 46,272 shares of the biopharmaceutical company’s stock after selling 8,704 shares during the quarter. abrdn plc’s holdings in Incyte were worth $3,681,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in Incyte by 5.3% during the fourth quarter. BlackRock Inc. now owns 18,336,658 shares of the biopharmaceutical company’s stock worth $1,345,912,000 after buying an additional 924,880 shares in the last quarter. Dodge & Cox boosted its holdings in Incyte by 1.1% during the fourth quarter. Dodge & Cox now owns 16,657,586 shares of the biopharmaceutical company’s stock worth $1,222,667,000 after buying an additional 181,150 shares in the last quarter. State Street Corp boosted its holdings in Incyte by 4.3% during the fourth quarter. State Street Corp now owns 9,347,709 shares of the biopharmaceutical company’s stock worth $686,122,000 after buying an additional 388,337 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Incyte by 4.1% during the fourth quarter. Renaissance Technologies LLC now owns 4,590,733 shares of the biopharmaceutical company’s stock worth $336,960,000 after buying an additional 179,500 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Incyte by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 3,858,142 shares of the biopharmaceutical company’s stock worth $282,546,000 after buying an additional 32,423 shares in the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 1,564 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $83.13, for a total transaction of $130,015.32. Following the transaction, the insider now owns 17,702 shares of the company’s stock, valued at $1,471,567.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Vijay K. Iyengar sold 5,787 shares of the stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $79.38, for a total value of $459,372.06. Following the completion of the sale, the executive vice president now owns 40,313 shares of the company’s stock, valued at $3,200,045.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Tray sold 1,564 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $83.13, for a total transaction of $130,015.32. Following the completion of the sale, the insider now directly owns 17,702 shares of the company’s stock, valued at approximately $1,471,567.26. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on INCY shares. SVB Leerink boosted their price objective on shares of Incyte from $58.00 to $63.00 and gave the stock an “underperform” rating in a report on Wednesday, July 20th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 14th. Stifel Nicolaus upped their price target on shares of Incyte from $75.00 to $77.00 in a report on Tuesday, May 3rd. Morgan Stanley upped their price target on shares of Incyte from $73.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, April 20th. Finally, Wells Fargo & Company began coverage on shares of Incyte in a report on Thursday. They issued an “equal weight” rating and a $76.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.55.

Incyte Stock Performance

Shares of INCY opened at $77.68 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 3.71. The company has a market capitalization of $17.21 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.97 and a beta of 0.66. The company’s 50 day simple moving average is $76.47 and its 200 day simple moving average is $75.27. Incyte Co. has a 1 year low of $61.91 and a 1 year high of $84.86.

Incyte (NASDAQ:INCYGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $733.20 million for the quarter, compared to the consensus estimate of $753.54 million. Incyte had a net margin of 29.95% and a return on equity of 12.77%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share. On average, sell-side analysts predict that Incyte Co. will post 2.31 EPS for the current year.

Incyte Profile

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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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