Incyte Co. (NASDAQ:INCY) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC lowered its stake in Incyte Co. (NASDAQ:INCY) by 11.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 139,652 shares of the biopharmaceutical company’s stock after selling 17,651 shares during the quarter. Cambiar Investors LLC’s holdings in Incyte were worth $9,646,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new position in Incyte in the third quarter valued at about $156,611,000. Mizuho Securities USA LLC lifted its position in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after purchasing an additional 1,985,726 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after purchasing an additional 364,169 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Incyte by 5.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock worth $83,680,000 after purchasing an additional 70,596 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock worth $68,208,000 after purchasing an additional 77,542 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on INCY shares. Oppenheimer increased their price target on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of Incyte in a research report on Thursday, January 23rd. BMO Capital Markets reissued an “underperform” rating and set a $52.00 price target (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and upped their target price for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $75.71.

Insider Activity

In related news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock worth $1,444,356 over the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Incyte Stock Performance

Shares of Incyte stock opened at $68.30 on Tuesday. The firm has a market capitalization of $13.16 billion, a P/E ratio of 487.89, a P/E/G ratio of 0.53 and a beta of 0.70. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $71.79 and its two-hundred day moving average is $69.18.

Incyte (NASDAQ:INCY) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Research analysts forecast that Incyte Co. will post 0.35 EPS for the current fiscal year.

About Incyte

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.