American Century Companies Inc. Purchases 366,032 Shares of Incyte Corporation $INCY

American Century Companies Inc. increased its position in shares of Incyte Corporation (NASDAQ:INCY) by 468.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 444,193 shares of the biopharmaceutical company’s stock after purchasing an additional 366,032 shares during the period. American Century Companies Inc. owned approximately 0.23% of Incyte worth $37,672,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. Vanguard Group Inc. lifted its stake in Incyte by 0.7% in the second quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock worth $1,371,220,000 after purchasing an additional 137,570 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Incyte by 21.8% during the second quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock valued at $558,519,000 after buying an additional 1,465,286 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Incyte by 3.3% during the second quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company’s stock valued at $294,899,000 after buying an additional 139,740 shares during the last quarter. LSV Asset Management raised its holdings in shares of Incyte by 3.2% in the third quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock worth $338,061,000 after buying an additional 124,266 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Incyte by 7.3% in the second quarter. Invesco Ltd. now owns 3,401,018 shares of the biopharmaceutical company’s stock worth $231,609,000 after buying an additional 232,268 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Down 1.4%

Shares of NASDAQ:INCY opened at $95.94 on Friday. The business’s 50 day moving average price is $102.28 and its 200-day moving average price is $96.17. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $112.29. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business posted $1.43 EPS. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities research analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Insider Transactions at Incyte

In other Incyte news, insider Thomas Tray sold 2,774 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $100.00, for a total value of $277,400.00. Following the transaction, the insider directly owned 22,973 shares in the company, valued at $2,297,300. This represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total value of $1,184,063.92. Following the transaction, the executive vice president directly owned 66,132 shares in the company, valued at approximately $7,213,017.24. The trade was a 14.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 72,561 shares of company stock valued at $7,195,307. 17.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INCY shares. Wall Street Zen cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Stifel Nicolaus lifted their target price on Incyte from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Zacks Research lowered shares of Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Piper Sandler upped their price target on shares of Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, Morgan Stanley set a $102.00 price target on shares of Incyte in a research note on Wednesday, February 11th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Incyte currently has an average rating of “Hold” and an average target price of $104.00.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.