Incyte Co. (NASDAQ:INCY) Shares Acquired by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Incyte Co. (NASDAQ:INCY) by 409.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 38,023 shares of the biopharmaceutical company’s stock after acquiring an additional 30,565 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Incyte were worth $2,626,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quintet Private Bank Europe S.A. purchased a new position in Incyte in the fourth quarter valued at about $26,000. Global X Japan Co. Ltd. grew its holdings in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the period. R Squared Ltd acquired a new stake in shares of Incyte in the 4th quarter worth approximately $30,000. Blue Trust Inc. raised its holdings in Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in Incyte during the fourth quarter worth $42,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Up 0.3 %

INCY opened at $59.16 on Friday. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 219.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. Incyte Co. has a 12 month low of $50.35 and a 12 month 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 business has a 50-day moving average of $63.63 and a two-hundred day moving average of $69.02.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 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%. On average, research analysts expect that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Activity

In other news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction dated 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 transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,475 shares of company stock valued at $2,424,751 in the last ninety days. Company insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price target on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. Citigroup cut their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. William Blair lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price objective on shares of Incyte from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, Morgan Stanley reduced their target price on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Incyte currently has a consensus rating of “Hold” and a consensus price target of $74.69.

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.