Incyte Corporation $INCY Shares Sold by Dodge & Cox

Dodge & Cox lessened its position in Incyte Corporation (NASDAQ:INCY) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,932,416 shares of the biopharmaceutical company’s stock after selling 662,765 shares during the quarter. Dodge & Cox owned about 7.10% of Incyte worth $1,181,608,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AustralianSuper Pty Ltd acquired a new stake in shares of Incyte in the third quarter valued at about $18,085,000. Rakuten Investment Management Inc. purchased a new position in shares of Incyte in the third quarter worth about $14,646,000. LBP AM SA boosted its position in Incyte by 33.6% during the third quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company’s stock worth $20,245,000 after acquiring an additional 59,974 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Incyte by 38.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock valued at $32,873,000 after acquiring an additional 108,645 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Incyte by 28.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 106,789 shares of the biopharmaceutical company’s stock valued at $9,309,000 after acquiring an additional 23,954 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Stock Up 0.6%

Shares of NASDAQ INCY opened at $92.54 on Friday. The company has a 50 day simple moving average of $101.78 and a 200-day simple moving average of $96.48. The company has a market capitalization of $18.42 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.73 and a beta of 0.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $112.29.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.35 billion. Incyte had a net margin of 25.03% and a return on equity of 26.34%. The company’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share. On average, equities research analysts predict that Incyte Corporation will post 4.86 earnings per share for the current year.

Insider Activity

In other news, EVP Michael James Morrissey sold 54,008 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $97.29, for a total transaction of $5,254,438.32. Following the completion of the transaction, the executive vice president directly owned 31,830 shares in the company, valued at approximately $3,096,740.70. This represents a 62.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 2,774 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $100.00, for a total transaction of $277,400.00. Following the completion of the sale, the insider owned 22,973 shares in the company, valued at approximately $2,297,300. This trade represents a 10.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 72,561 shares of company stock valued at $7,195,307 in the last quarter. Insiders own 17.80% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of research reports. Morgan Stanley set a $102.00 target price on shares of Incyte in a research note on Wednesday, February 11th. Wall Street Zen lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $90.00 price target on shares of Incyte in a report on Thursday, January 8th. Truist Financial set a $103.00 price objective on Incyte in a research report on Wednesday, December 24th. Finally, Royal Bank Of Canada dropped their target price on Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a report on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Incyte has an average rating of “Hold” and an average price target of $104.00.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.