Baker BROS. Advisors LP Grows Position in Incyte Co. (NASDAQ:INCY)

Baker BROS. Advisors LP increased its stake in shares of Incyte Co. (NASDAQ:INCY) by 0.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,739,466 shares of the biopharmaceutical company’s stock after buying an additional 446 shares during the period. Incyte comprises about 22.7% of Baker BROS. Advisors LP’s holdings, making the stock its biggest position. Baker BROS. Advisors LP owned about 0.16% of Incyte worth $2,123,175,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. CWA Asset Management Group LLC bought a new stake in Incyte in the 4th quarter valued at about $1,933,000. Wells Fargo & Company MN raised its position in shares of Incyte by 61.3% in the fourth quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company’s stock valued at $12,031,000 after purchasing an additional 66,220 shares during the period. Pallas Capital Advisors LLC bought a new position in Incyte in the 4th quarter worth approximately $1,006,000. JPMorgan Chase & Co. boosted its holdings in Incyte by 13.5% in the 4th quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company’s stock worth $22,354,000 after buying an additional 38,550 shares during the period. Finally, SG Americas Securities LLC grew its stake in Incyte by 262.2% in the 4th quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company’s stock valued at $6,866,000 after buying an additional 71,963 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

INCY stock opened at $62.53 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $62.53 and its two-hundred day moving average price is $68.87. The stock has a market capitalization of $12.10 billion, a price-to-earnings ratio of 231.60, a PEG ratio of 0.41 and a beta of 0.68. Incyte Co. has a 12-month low of $52.81 and a 12-month high of $83.95.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $996.17 million. During the same quarter last year, the business posted $0.64 EPS. The business’s revenue was up 19.5% on a year-over-year basis. As a group, equities analysts predict that Incyte Co. will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INCY. Stifel Nicolaus lifted their price target on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Truist Financial dropped their target price on shares of Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Citigroup dropped their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Incyte from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.53.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,475 shares of company stock worth $2,424,751 over the last quarter. Corporate insiders own 17.60% of the company’s stock.

Incyte Company 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.