SG Americas Securities LLC Increases Stock Position in Incyte Co. (NASDAQ:INCY)

SG Americas Securities LLC increased its position in shares of Incyte Co. (NASDAQ:INCYFree Report) by 345.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,791 shares of the biopharmaceutical company’s stock after buying an additional 29,315 shares during the quarter. SG Americas Securities LLC’s holdings in Incyte were worth $2,373,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Clear Street Markets LLC boosted its holdings in Incyte by 93.6% during the first quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 175 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Incyte by 91.0% during the first quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 213 shares during the period. Salem Investment Counselors Inc. raised its position in Incyte by 1,458.0% during the second quarter. Salem Investment Counselors Inc. now owns 779 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 729 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Incyte in the first quarter valued at about $71,000. Finally, Penserra Capital Management LLC raised its position in shares of Incyte by 9,866.7% in the second quarter. Penserra Capital Management LLC now owns 1,196 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 1,184 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Down 1.6 %

Shares of INCY stock opened at $56.55 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55. The stock has a market capitalization of $12.70 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 1.22 and a beta of 0.65. The company has a 50 day moving average price of $59.32 and a 200 day moving average price of $58.64. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $76.04.

Incyte (NASDAQ:INCYGet Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts predict that Incyte Co. will post 3.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, EVP Vijay K. Iyengar sold 657 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $65.00, for a total transaction of $42,705.00. Following the completion of the transaction, the executive vice president now owns 43,412 shares in the company, valued at approximately $2,821,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 17.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Monday, December 4th. Bank of America reduced their target price on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. BMO Capital Markets lifted their price target on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a research report on Wednesday, February 14th. JMP Securities cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Finally, Truist Financial dropped their price target on shares of Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.07.

Get Our Latest Stock Report on INCY

About Incyte

(Free Report)

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.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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