ProShare Advisors LLC Acquires 7,925 Shares of Incyte Co. (NASDAQ:INCY)

ProShare Advisors LLC grew its holdings in shares of Incyte Co. (NASDAQ:INCY) by 14.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 63,086 shares of the biopharmaceutical company’s stock after acquiring an additional 7,925 shares during the period. ProShare Advisors LLC’s holdings in Incyte were worth $3,594,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Incyte by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 22,519,381 shares of the biopharmaceutical company’s stock valued at $1,413,992,000 after acquiring an additional 359,962 shares during the last quarter. LSV Asset Management raised its stake in Incyte by 2.3% during the first quarter. LSV Asset Management now owns 2,754,777 shares of the biopharmaceutical company’s stock worth $156,940,000 after buying an additional 62,950 shares during the last quarter. Norges Bank bought a new position in Incyte during the fourth quarter worth $123,253,000. Los Angeles Capital Management LLC raised its stake in Incyte by 37.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,570,296 shares of the biopharmaceutical company’s stock worth $98,599,000 after buying an additional 424,934 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Incyte by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,326,814 shares of the biopharmaceutical company’s stock worth $83,311,000 after buying an additional 97,614 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INCY. Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 target price on shares of Incyte in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Incyte in a research note on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price for the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Tuesday, June 18th. Oppenheimer reduced their price target on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Finally, StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.44.

Incyte Stock Up 0.1 %

Shares of NASDAQ INCY opened at $65.37 on Friday. The stock has a market capitalization of $14.68 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.38 and a beta of 0.73. The company has a 50-day moving average price of $59.78 and a 200-day moving average price of $58.65. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $67.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The business had revenue of $880.89 million for the quarter, compared to analyst estimates of $935.85 million. On average, equities research analysts forecast that Incyte Co. will post 3.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Barry P. Flannelly sold 1,306 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total transaction of $83,832.14. Following the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at $3,725,715.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Barry P. Flannelly sold 1,306 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total transaction of $83,832.14. Following the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at $3,725,715.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the transaction, the executive vice president now owns 66,377 shares in the company, valued at $3,982,620. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,711 shares of company stock worth $1,786,941. 17.50% of the stock is owned by insiders.

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.