Northwest & Ethical Investments L.P. Sells 15,820 Shares of Incyte Co. (NASDAQ:INCY)

Northwest & Ethical Investments L.P. lowered its stake in shares of Incyte Co. (NASDAQ:INCY) by 51.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,944 shares of the biopharmaceutical company’s stock after selling 15,820 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Incyte were worth $1,032,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in INCY. Quintet Private Bank Europe S.A. purchased a new stake in Incyte during the fourth quarter valued at about $26,000. Global X Japan Co. Ltd. lifted its holdings in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Incyte during the third quarter valued at about $30,000. R Squared Ltd purchased a new stake in Incyte during the fourth quarter valued at about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte during the third quarter valued at about $33,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 2.2 %

Shares of NASDAQ INCY opened at $61.92 on Friday. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The firm’s 50 day simple moving average is $70.61 and its two-hundred day simple moving average is $70.11. The stock has a market capitalization of $11.98 billion, a P/E ratio of 229.34, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS 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%. As a group, analysts expect that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. This represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock worth $3,322,618 over the last ninety days. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of several recent research reports. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a report on Tuesday. Wells Fargo & Company upped their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Finally, Citigroup lowered their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.13.

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.