Northwestern Mutual Wealth Management Co. Has $567,000 Stock Position in Incyte Co. (NASDAQ:INCY)

Northwestern Mutual Wealth Management Co. grew its position in Incyte Co. (NASDAQ:INCY) by 204.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,350 shares of the biopharmaceutical company’s stock after buying an additional 6,280 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Incyte were worth $567,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in INCY. Pacer Advisors Inc. boosted its holdings in shares of Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after purchasing an additional 2,676,851 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after purchasing an additional 779,243 shares during the period. Swedbank AB acquired a new stake in shares of Incyte during the first quarter worth approximately $37,440,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Incyte by 122.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock worth $54,116,000 after purchasing an additional 490,680 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Trading Down 2.6 %

Shares of INCY stock opened at $65.76 on Tuesday. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $70.36. The firm’s fifty day simple moving average is $64.33 and its 200 day simple moving average is $60.29. The firm has a market capitalization of $14.77 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Incyte Co. will post 0.66 EPS for the current year.

Insider Activity

In other news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the transaction, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the sale, the executive vice president now owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,899 shares of company stock worth $1,736,746. 17.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on INCY shares. Oppenheimer decreased their price target on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Friday, July 26th. BMO Capital Markets reiterated an “underperform” rating and issued a $48.00 target price (down from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Truist Financial reiterated a “hold” rating and issued a $74.00 target price (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Monday, September 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $67.00 target price on shares of Incyte in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus target price of $73.83.

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.