Centre Asset Management LLC Decreases Position in Incyte Co. (NASDAQ:INCY)

Centre Asset Management LLC lessened its stake in Incyte Co. (NASDAQ:INCY) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 136,154 shares of the biopharmaceutical company’s stock after selling 12,184 shares during the quarter. Incyte makes up approximately 2.2% of Centre Asset Management LLC’s portfolio, making the stock its 20th biggest holding. Centre Asset Management LLC’s holdings in Incyte were worth $9,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of INCY. Haverford Trust Co increased its stake in shares of Incyte by 1.8% in the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 135 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 155 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 164 shares during the period. Ballentine Partners LLC raised its position in shares of Incyte by 4.0% in the second quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after buying an additional 182 shares in the last quarter. Finally, Tectonic Advisors LLC raised its holdings in shares of Incyte by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock valued at $819,000 after acquiring an additional 190 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Incyte Stock Up 0.9 %

NASDAQ INCY traded up $0.61 during mid-day trading on Friday, reaching $70.14. The stock had a trading volume of 176,740 shares, compared to its average volume of 577,183. The stock has a market cap of $13.51 billion, a PE ratio of 501.04, a price-to-earnings-growth ratio of 7.90 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a fifty day moving average price of $73.07 and a 200 day moving average price of $67.16.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, research analysts expect that Incyte Co. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INCY. UBS Group began coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Morgan Stanley lifted their target price on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Citigroup raised their price objective on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.29.

Insider Transactions at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares in the company, valued at $1,615,754.72. The trade was a 2.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,023 shares of company stock worth $839,711 in the last ninety days. 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.