UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 438,830 Shares of Incyte Co. (NASDAQ:INCY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Incyte Co. (NASDAQ:INCY) by 24.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,379,465 shares of the biopharmaceutical company’s stock after selling 438,830 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Incyte were worth $91,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. MFA Wealth Advisors LLC purchased a new position in Incyte in the second quarter worth about $26,000. Brooklyn Investment Group bought a new stake in shares of Incyte during the third quarter valued at approximately $30,000. Innealta Capital LLC purchased a new position in Incyte in the 2nd quarter worth approximately $32,000. Itau Unibanco Holding S.A. bought a new position in Incyte in the 2nd quarter valued at approximately $36,000. Finally, Deseret Mutual Benefit Administrators boosted its stake in Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 164 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock worth $856,166 over the last quarter. Insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INCY shares. Oppenheimer boosted their price target on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wolfe Research started coverage on Incyte in a report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Truist Financial reiterated a “hold” rating and set a $74.00 price objective (down previously from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $77.16.

Incyte Trading Down 1.8 %

Shares of INCY stock opened at $73.24 on Tuesday. The stock has a fifty day simple moving average of $70.94 and a two-hundred day simple moving average of $65.34. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The firm has a market capitalization of $14.11 billion, a PE ratio of 523.18, a PEG ratio of 8.60 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.91 EPS. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, analysts predict that Incyte Co. will post 0.4 EPS for the current fiscal 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.