Incyte Co. (NASDAQ:INCY) is Shikiar Asset Management Inc.’s 8th Largest Position

Shikiar Asset Management Inc. lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,690 shares of the biopharmaceutical company’s stock after selling 5,495 shares during the quarter. Incyte accounts for about 3.0% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. Shikiar Asset Management Inc.’s holdings in Incyte were worth $11,168,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Incyte in the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte in the third quarter worth $33,000. Cromwell Holdings LLC boosted its position in shares of Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 283 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Incyte during the second quarter valued at $36,000. Finally, Capital Performance Advisors LLP bought a new stake in Incyte in the 3rd quarter valued at $45,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Trading Down 0.7 %

Shares of INCY opened at $71.93 on Friday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a market capitalization of $13.86 billion, a PE ratio of 513.82, a price-to-earnings-growth ratio of 0.51 and a beta of 0.71. The stock has a fifty day moving average of $72.36 and a two-hundred day moving average of $67.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

Incyte (NASDAQ:INCY) last released its earnings results 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 negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. As a group, analysts forecast that Incyte Co. will post 0.4 EPS for the current year.

Insider Activity at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 650 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were 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 owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,023 shares of company stock worth $839,711. 17.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

INCY has been the topic of several research reports. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday. The Goldman Sachs Group lifted their price objective on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, UBS Group initiated coverage on shares of Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $76.29.

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.