First Financial Bankshares Inc Grows Position in Incyte Co. (NASDAQ:INCY)

First Financial Bankshares Inc raised its position in shares of Incyte Co. (NASDAQ:INCY) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,067 shares of the biopharmaceutical company’s stock after acquiring an additional 265 shares during the period. First Financial Bankshares Inc’s holdings in Incyte were worth $2,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in shares of Incyte in the 3rd quarter worth about $156,611,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Incyte by 29.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after purchasing an additional 364,169 shares during the last quarter. Candriam S.C.A. boosted its holdings in shares of Incyte by 27.8% in the 4th quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock worth $71,463,000 after purchasing an additional 224,919 shares during the period. LBP AM SA bought a new position in shares of Incyte during the 4th quarter valued at approximately $13,905,000. Finally, Los Angeles Capital Management LLC raised its holdings in Incyte by 94.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 407,201 shares of the biopharmaceutical company’s stock valued at $28,125,000 after buying an additional 197,406 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INCY has been the topic of a number of analyst reports. William Blair cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Wells Fargo & Company upped their price target on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Citigroup reduced their price target on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.13.

Incyte Trading Down 3.2 %

Shares of NASDAQ INCY opened at $60.00 on Wednesday. The business has a fifty day moving average price of $71.29 and a 200 day moving average price of $70.27. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The stock has a market capitalization of $11.61 billion, a P/E ratio of 222.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

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

Insider Activity at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock valued at $3,322,618 over the last 90 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.