Fisher Asset Management LLC Purchases 17,401 Shares of Incyte Co. (NASDAQ:INCY)

Fisher Asset Management LLC grew its holdings in Incyte Co. (NASDAQ:INCY) by 151.0% in the fourth quarter, HoldingsChannel reports. The fund owned 28,923 shares of the biopharmaceutical company’s stock after buying an additional 17,401 shares during the period. Fisher Asset Management LLC’s holdings in Incyte were worth $1,998,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Global X Japan Co. Ltd. boosted its holdings in Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares during the period. R Squared Ltd bought a new stake in shares of Incyte in the fourth quarter valued at approximately $30,000. Brooklyn Investment Group bought a new stake in shares of Incyte in the third quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte during the third quarter worth approximately $33,000. Finally, Blue Trust Inc. increased its stake in Incyte by 124.6% during the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 329 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Up 0.2 %

NASDAQ:INCY opened at $69.81 on Thursday. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The company has a market cap of $13.51 billion, a PE ratio of 258.57, a P/E/G ratio of 0.41 and a beta of 0.76. The firm’s 50 day simple moving average is $71.77 and its 200 day simple moving average is $70.07.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,721 shares of company stock worth $2,030,925. Insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INCY. UBS Group started coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Stifel Nicolaus increased their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Citigroup reduced their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.25.

Incyte 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.