Incyte Co. (NASDAQ:INCY) Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. lowered its stake in shares of Incyte Co. (NASDAQ:INCY) by 38.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,715 shares of the biopharmaceutical company’s stock after selling 4,766 shares during the period. Machina Capital S.A.S.’s holdings in Incyte were worth $484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC lifted its position in Incyte by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock worth $2,773,000 after acquiring an additional 187 shares in the last quarter. Allworth Financial LP raised its position in shares of Incyte by 40.0% in the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 229 shares in the last quarter. Grandfield & Dodd LLC boosted its stake in shares of Incyte by 1.8% during the 4th quarter. Grandfield & Dodd LLC now owns 18,390 shares of the biopharmaceutical company’s stock valued at $1,155,000 after buying an additional 319 shares during the last quarter. MQS Management LLC grew its position in shares of Incyte by 6.2% during the third quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company’s stock worth $322,000 after buying an additional 327 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Incyte by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 89,217 shares of the biopharmaceutical company’s stock worth $5,154,000 after buying an additional 335 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Price Performance

Incyte stock traded up $0.32 during trading hours on Monday, hitting $54.08. 2,016,540 shares of the company traded hands, compared to its average volume of 1,798,635. The firm’s 50-day simple moving average is $55.97 and its two-hundred day simple moving average is $57.55. The firm has a market cap of $12.14 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.35 and a beta of 0.69. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $67.36. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts forecast that Incyte Co. will post 3.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INCY has been the subject of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $65.00 target price on shares of Incyte in a research report on Monday, March 25th. Cantor Fitzgerald started coverage on Incyte in a research report on Tuesday, April 23rd. They issued a “neutral” rating for the company. Stifel Nicolaus raised their price objective on Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Jefferies Financial Group initiated coverage on shares of Incyte in a report on Friday, February 23rd. They issued a “buy” rating and a $81.00 price target for the company. Finally, StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Incyte has a consensus rating of “Moderate Buy” and a consensus price target of $74.93.

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.