Prudential Financial Inc. Has $8.35 Million Position in Incyte Co. (NASDAQ:INCY)

Prudential Financial Inc. grew its holdings in Incyte Co. (NASDAQ:INCY) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,514 shares of the biopharmaceutical company’s stock after purchasing an additional 2,442 shares during the quarter. Prudential Financial Inc. owned about 0.06% of Incyte worth $8,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in INCY. CWA Asset Management Group LLC acquired a new position in Incyte in the fourth quarter valued at approximately $1,933,000. Orion Portfolio Solutions LLC acquired a new position in shares of Incyte during the 3rd quarter valued at $770,000. Tri Ri Asset Management Corp bought a new position in Incyte during the third quarter worth $3,292,000. Pallas Capital Advisors LLC bought a new position in Incyte during the fourth quarter worth $1,006,000. Finally, SG Americas Securities LLC grew its holdings in Incyte by 262.2% in the fourth quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company’s stock worth $6,866,000 after purchasing an additional 71,963 shares during the period. Institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. 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 ninety days. 17.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on INCY shares. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Wells Fargo & Company upped their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus upped their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.88.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $60.60 on Friday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company’s 50-day moving average is $69.53 and its 200 day moving average is $70.09. 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 has a market capitalization of $11.73 billion, a P/E ratio of 224.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last released its 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%. On average, equities research analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

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.