454 Shares in Incyte Co. (NASDAQ:INCY) Acquired by Brooklyn Investment Group

Brooklyn Investment Group bought a new stake in shares of Incyte Co. (NASDAQ:INCY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 454 shares of the biopharmaceutical company’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. MFA Wealth Advisors LLC purchased a new position in Incyte in the second quarter valued at about $26,000. Innealta Capital LLC purchased a new position in shares of Incyte in the 2nd quarter worth approximately $32,000. Itau Unibanco Holding S.A. bought a new position in shares of Incyte during the 2nd quarter worth approximately $36,000. Deseret Mutual Benefit Administrators boosted its stake in 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 in the last quarter. Finally, Cromwell Holdings LLC grew its holdings in Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Down 1.1 %

Shares of INCY opened at $74.59 on Friday. The stock’s 50-day moving average price is $70.76 and its 200-day moving average price is $65.17. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $14.37 billion, a price-to-earnings ratio of 532.82, a PEG ratio of 8.70 and a beta of 0.71. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, sell-side analysts predict that Incyte Co. will post 0.4 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on INCY. Wells Fargo & Company increased their price objective on Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citigroup upped their price objective on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. Finally, BMO Capital Markets restated an “underperform” rating and set a $52.00 price target (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Incyte has a consensus rating of “Hold” and an average target price of $77.16.

Insider Activity at Incyte

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This represents a 18.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,702 shares of company stock worth $856,166. 17.60% of the stock is owned by company insiders.

Incyte 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.