Charles Schwab Investment Management Inc. Purchases 33,847 Shares of Incyte Co. (NASDAQ:INCY)

Charles Schwab Investment Management Inc. raised its position in shares of Incyte Co. (NASDAQ:INCY) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,643,067 shares of the biopharmaceutical company’s stock after purchasing an additional 33,847 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.85% of Incyte worth $113,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in INCY. Capital Performance Advisors LLP purchased a new stake in Incyte during the third quarter valued at approximately $45,000. Crossmark Global Holdings Inc. grew its position in shares of Incyte by 1.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 25,079 shares of the biopharmaceutical company’s stock valued at $1,657,000 after acquiring an additional 276 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Incyte in the 3rd quarter worth $65,000. GSA Capital Partners LLP raised its holdings in Incyte by 26.5% in the 3rd quarter. GSA Capital Partners LLP now owns 6,453 shares of the biopharmaceutical company’s stock worth $427,000 after purchasing an additional 1,351 shares during the period. Finally, Haverford Trust Co lifted its position in Incyte by 1.8% during the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 1.0 %

Shares of INCY opened at $70.79 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 debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The company’s fifty day moving average is $71.82 and its 200 day moving average is $70.16. The stock has a market capitalization of $13.70 billion, a PE ratio of 262.19, a P/E/G ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. Sell-side analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on INCY. Citigroup decreased their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Stifel Nicolaus upped their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. William Blair restated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Finally, Royal Bank of Canada dropped their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Incyte has an average rating of “Hold” and an average price target of $75.25.

Insider Activity

In related news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,320 shares of company stock valued at $2,072,849 in the last ninety days. Insiders own 17.60% of the company’s stock.

About Incyte

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.