Incyte Co. (NASDAQ:INCY) Stake Increased by CX Institutional

CX Institutional grew its holdings in Incyte Co. (NASDAQ:INCY) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,902 shares of the biopharmaceutical company’s stock after purchasing an additional 535 shares during the period. CX Institutional’s holdings in Incyte were worth $270,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Incyte in the third quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Incyte in the third quarter worth $33,000. Cromwell Holdings LLC increased its stake in shares of 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 acquiring an additional 283 shares during the last quarter. Groupama Asset Managment increased its stake in shares of Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 6,105 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Incyte in the third quarter worth $45,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 0.1 %

Shares of INCY opened at $72.59 on Monday. The stock has a market cap of $13.98 billion, a price-to-earnings ratio of 518.54, a P/E/G ratio of 0.53 and a beta of 0.71. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a 50-day moving average price of $71.69 and a two-hundred day moving average price of $68.48.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue was up 23.8% on a year-over-year basis. Equities analysts predict that Incyte Co. will post 0.39 EPS for the current fiscal year.

Insider Activity

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,375 shares of company stock worth $1,737,578. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. The Goldman Sachs Group upped their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of Incyte in a research report on Thursday. Finally, JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $75.71.

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.