Banco Bilbao Vizcaya Argentaria S.A. Has $2.56 Million Stock Position in Incyte Corporation $INCY

Banco Bilbao Vizcaya Argentaria S.A. trimmed its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,543 shares of the biopharmaceutical company’s stock after selling 1,432 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Incyte were worth $2,556,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new stake in Incyte in the 2nd quarter valued at $27,000. Banque Transatlantique SA bought a new position in shares of Incyte during the first quarter worth approximately $26,000. Hilltop National Bank bought a new position in Incyte during the 2nd quarter worth $37,000. SVB Wealth LLC bought a new position in Incyte during the first quarter worth about $39,000. Finally, Geneos Wealth Management Inc. grew its position in Incyte by 350.0% during the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 588 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on INCY shares. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. BMO Capital Markets reissued an “underperform” rating and set a $60.00 target price (up previously from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Citigroup upped their price target on shares of Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus upped their target price on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Incyte has an average rating of “Hold” and an average price target of $92.77.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $104.15 on Monday. The stock has a market cap of $20.45 billion, a PE ratio of 17.45, a PEG ratio of 0.70 and a beta of 0.74. The company’s fifty day moving average is $90.34 and its 200 day moving average is $78.24. The company has a quick ratio of 2.78, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $109.28.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, topping the consensus estimate of $1.65 by $0.61. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.26 billion. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. Research analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current year.

Insiders Place Their Bets

In other Incyte news, EVP Lee Heeson sold 3,074 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the transaction, the executive vice president owned 29,241 shares of the company’s stock, valued at approximately $2,749,238.82. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 598 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total value of $60,613.28. Following the transaction, the executive vice president owned 26,569 shares in the company, valued at approximately $2,693,033.84. This trade represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,227 shares of company stock worth $396,327. 17.80% of the stock is owned by corporate insiders.

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.