DekaBank Deutsche Girozentrale Reduces Stake in Incyte Co. (NASDAQ:INCY)

DekaBank Deutsche Girozentrale reduced its position in Incyte Co. (NASDAQ:INCY) by 15.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,217 shares of the biopharmaceutical company’s stock after selling 24,235 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.06% of Incyte worth $7,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Qsemble Capital Management LP purchased a new position in shares of Incyte in the 2nd quarter worth $3,341,000. Sentry Investment Management LLC bought a new position in Incyte in the 2nd quarter worth $56,000. Andra AP fonden raised its holdings in Incyte by 35.2% in the 2nd quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock worth $15,022,000 after purchasing an additional 64,500 shares during the period. Royal London Asset Management Ltd. raised its holdings in Incyte by 152.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 182,852 shares of the biopharmaceutical company’s stock worth $11,084,000 after purchasing an additional 110,360 shares during the period. Finally, Choreo LLC raised its holdings in Incyte by 186.1% in the 2nd quarter. Choreo LLC now owns 14,117 shares of the biopharmaceutical company’s stock worth $859,000 after purchasing an additional 9,183 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,047 shares of company stock valued at $2,225,626. 17.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

INCY has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Monday. JPMorgan Chase & Co. raised their price target on Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. William Blair reissued an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Oppenheimer decreased their price target on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Bank of America raised their price target on Incyte from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.76.

Incyte Trading Up 4.5 %

INCY opened at $66.41 on Tuesday. The firm has a market cap of $14.91 billion, a P/E ratio of 20.12, a P/E/G ratio of 5.03 and a beta of 0.73. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $64.03 and a 200 day moving average of $59.61.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of $0.78 by ($2.60). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 EPS. As a group, research analysts forecast that Incyte Co. will post 0.67 EPS for the current year.

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.