49,161 Shares in Incyte Co. (NASDAQ:INCY) Bought by Tri Ri Asset Management Corp

Tri Ri Asset Management Corp acquired a new position in shares of Incyte Co. (NASDAQ:INCY) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 49,161 shares of the biopharmaceutical company’s stock, valued at approximately $3,292,000. Incyte comprises about 1.7% of Tri Ri Asset Management Corp’s investment portfolio, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after buying an additional 2,676,851 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Incyte during the third quarter worth $156,611,000. Mizuho Securities USA LLC increased its position in Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after buying an additional 1,985,726 shares in the last quarter. AQR Capital Management LLC increased its position in Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after buying an additional 1,101,041 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after buying an additional 779,243 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Price Performance

INCY stock opened at $70.83 on Friday. The stock has a 50-day moving average price of $72.12 and a two-hundred day moving average price of $66.10. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $13.65 billion, a PE ratio of 505.96, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69.

Incyte (NASDAQ:INCY) 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 for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, research analysts predict that Incyte Co. will post 0.4 EPS for the current year.

Insiders Place Their Bets

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, 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. 17.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INCY. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus target price of $77.16.

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.