3,865 Shares in Incyte Co. (NASDAQ:INCY) Purchased by Syon Capital LLC

Syon Capital LLC acquired a new position in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,865 shares of the biopharmaceutical company’s stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eventide Asset Management LLC acquired a new stake in shares of Incyte during the fourth quarter valued at about $7,629,000. Parkwood LLC increased its position in shares of Incyte by 7.0% during the fourth quarter. Parkwood LLC now owns 22,017 shares of the biopharmaceutical company’s stock valued at $1,382,000 after acquiring an additional 1,432 shares during the last quarter. Forefront Analytics LLC increased its position in shares of Incyte by 31.9% during the fourth quarter. Forefront Analytics LLC now owns 4,668 shares of the biopharmaceutical company’s stock valued at $293,000 after acquiring an additional 1,130 shares during the last quarter. Gotham Asset Management LLC increased its position in shares of Incyte by 87.9% during the fourth quarter. Gotham Asset Management LLC now owns 158,534 shares of the biopharmaceutical company’s stock valued at $9,954,000 after acquiring an additional 74,179 shares during the last quarter. Finally, First Financial Bankshares Inc acquired a new stake in shares of Incyte during the fourth quarter valued at about $1,928,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Down 2.0 %

Shares of NASDAQ:INCY opened at $61.44 on Wednesday. The company has a market capitalization of $13.80 billion, a PE ratio of 18.62, a P/E/G ratio of 1.34 and a beta of 0.74. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $67.36. The firm has a 50 day simple moving average of $56.02 and a 200-day simple moving average of $58.43.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.31). The company had revenue of $880.89 million for the quarter, compared to analysts’ expectations of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. On average, equities analysts predict that Incyte Co. will post 3.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Bank of America lowered their price objective on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Truist Financial reissued a “buy” rating and issued a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. BMO Capital Markets lowered their price objective on shares of Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. TD Cowen lowered their price objective on shares of Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.69.

Insider Activity

In other news, insider Thomas Tray sold 1,093 shares of Incyte stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the transaction, the insider now directly owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Thomas Tray sold 1,093 shares of Incyte stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the transaction, the insider now directly owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the transaction, the executive vice president now directly owns 66,377 shares in the company, valued at $3,982,620. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

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.