Itau Unibanco Holding S.A. Has $64,000 Stake in Incyte Co. (NASDAQ:INCY)

by · The Markets Daily

Itau Unibanco Holding S.A. raised its stake in shares of Incyte Co. (NASDAQ:INCY – Free Report) by 63.4% in the third quarter, Holdings Channel reports. The fund owned 974 shares of the biopharmaceutical company’s stock after acquiring an additional 378 shares during the period. Itau Unibanco Holding S.A.’s holdings in Incyte were worth $64,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Haverford Trust Co increased its position in shares of Incyte by 1.8% during the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 135 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 155 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 164 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Incyte by 4.0% in the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after acquiring an additional 182 shares in the last quarter. Finally, Tectonic Advisors LLC boosted its holdings in shares of Incyte by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

INCY has been the subject of several research analyst reports. Wolfe Research began coverage on Incyte in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective for the company. Royal Bank of Canada lifted their price target on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. Morgan Stanley upped their price target on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial reaffirmed 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. Finally, The Goldman Sachs Group increased their price target on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.16.

Read Our Latest Stock Analysis on Incyte

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. This trade represents a 18.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,745 shares of company stock worth $1,311,687. Corporate insiders own 17.60% of the company’s stock.

Incyte Stock Performance

Shares of INCY stock opened at $72.03 on Wednesday. The company has a market capitalization of $13.88 billion, a P/E ratio of 514.54, a price-to-earnings-growth ratio of 8.44 and a beta of 0.69. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The company’s 50 day moving average price is $71.11 and its two-hundred day moving average price is $65.44.

Incyte (NASDAQ:INCY – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, analysts expect that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Incyte Profile

(Free Report)

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.

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