Macquarie Group Ltd. Has $8.97 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Posted by Defense World Staff on Mar 7th, 2023

Macquarie Group Ltd. lessened its position in Incyte Co. (NASDAQ:INCY – Get Rating) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 134,536 shares of the biopharmaceutical company’s stock after selling 505 shares during the period. Macquarie Group Ltd. owned about 0.06% of Incyte worth $8,966,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in INCY. Guardian Wealth Advisors LLC acquired a new stake in shares of Incyte in the 3rd quarter valued at $29,000. American National Bank acquired a new position in Incyte during the 3rd quarter worth about $30,000. Parkside Financial Bank & Trust lifted its position in Incyte by 91.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 213 shares in the last quarter. TFC Financial Management acquired a new position in Incyte during the 3rd quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Incyte during the 3rd quarter worth about $51,000. Institutional investors and hedge funds own 95.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on INCY shares. JPMorgan Chase & Co. reduced their price target on shares of Incyte from $82.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 8th. SVB Leerink reiterated an “underperform” rating and set a $63.00 price target on shares of Incyte in a research report on Wednesday, February 8th. StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 8th. Cowen upped their target price on shares of Incyte from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Finally, Piper Sandler restated an “overweight” rating and set a $100.00 target price on shares of Incyte in a research report on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $87.54.

Incyte Price Performance

NASDAQ INCY opened at $75.85 on Tuesday. The business has a 50 day simple moving average of $80.62 and a 200 day simple moving average of $76.44. Incyte Co. has a 52-week low of $65.07 and a 52-week high of $86.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.50 and a current ratio of 3.54. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 0.65 and a beta of 0.74.

Incyte (NASDAQ:INCY – Get Rating) last posted its earnings results on Tuesday, February 7th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Incyte had a return on equity of 11.45% and a net margin of 10.03%. The business had revenue of $926.70 million during the quarter, compared to analysts’ expectations of $880.25 million. During the same period in the prior year, the business earned ($0.07) EPS. Incyte’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts anticipate that Incyte Co. will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, EVP Maria E. Pasquale sold 60,024 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $84.74, for a total transaction of $5,086,433.76. Following the completion of the transaction, the executive vice president now owns 68,524 shares of the company’s stock, valued at approximately $5,806,723.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Maria E. Pasquale sold 60,024 shares of the stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $84.74, for a total value of $5,086,433.76. Following the completion of the sale, the executive vice president now owns 68,524 shares of the company’s stock, valued at approximately $5,806,723.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas Tray sold 1,223 shares of the stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $82.16, for a total value of $100,481.68. Following the completion of the sale, the insider now directly owns 16,606 shares of the company’s stock, valued at approximately $1,364,348.96. The disclosure for this sale can be found here. Insiders sold a total of 113,970 shares of company stock valued at $9,447,367 in the last quarter. 17.50% of the stock is currently owned by insiders.

Incyte Profile

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Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of proprietary therapeutics. The company was founded in April 1991 and is headquartered in Wilmington, DE.