Generali Asset Management SPA SGR Takes $2.66 Million Position in Incyte Co. (NASDAQ:INCY)

Generali Asset Management SPA SGR purchased a new stake in shares of Incyte Co. (NASDAQ:INCY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,487 shares of the biopharmaceutical company’s stock, valued at approximately $2,658,000.

Other institutional investors have also added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. purchased a new stake in Incyte during the 4th quarter worth about $26,000. Global X Japan Co. Ltd. lifted its holdings in Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 230 shares in the last quarter. R Squared Ltd purchased a new stake in Incyte during the 4th quarter worth about $30,000. Brooklyn Investment Group purchased a new stake in Incyte during the 3rd quarter worth about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte during the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,827 shares of company stock worth $3,322,618 in the last ninety days. 17.60% of the stock is owned by insiders.

Incyte Price Performance

Shares of Incyte stock opened at $60.34 on Thursday. The business’s 50-day moving average price is $71.03 and its 200-day moving average price is $70.20. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The firm has a market capitalization of $11.68 billion, a PE ratio of 223.49, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Sell-side analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INCY. UBS Group began coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. William Blair cut Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday. Citigroup lowered their price target on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Finally, Stifel Nicolaus raised their price target on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $75.13.

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.