Cwm LLC Acquires 3,554 Shares of Incyte Co. (NASDAQ:INCY)

Cwm LLC boosted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 69.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,659 shares of the biopharmaceutical company’s stock after buying an additional 3,554 shares during the period. Cwm LLC’s holdings in Incyte were worth $493,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in INCY. HighTower Advisors LLC boosted its stake in Incyte by 21.4% during the third quarter. HighTower Advisors LLC now owns 24,162 shares of the biopharmaceutical company’s stock valued at $1,404,000 after buying an additional 4,266 shares during the period. PNC Financial Services Group Inc. lifted its stake in Incyte by 4.9% during the third quarter. PNC Financial Services Group Inc. now owns 23,287 shares of the biopharmaceutical company’s stock worth $1,345,000 after purchasing an additional 1,090 shares during the last quarter. FMR LLC lifted its stake in Incyte by 38.2% during the third quarter. FMR LLC now owns 1,556,751 shares of the biopharmaceutical company’s stock worth $89,934,000 after purchasing an additional 430,121 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Incyte by 1,083.6% during the third quarter. V Square Quantitative Management LLC now owns 3,397 shares of the biopharmaceutical company’s stock worth $196,000 after purchasing an additional 3,110 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Incyte during the third quarter worth about $1,110,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 1.4 %

Shares of NASDAQ:INCY opened at $63.22 on Friday. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $67.36. The company has a market cap of $14.20 billion, a PE ratio of 19.16, a P/E/G ratio of 1.32 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. The stock’s 50-day moving average is $56.48 and its 200 day moving average is $58.53.

Incyte (NASDAQ:INCY) last posted 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 firm had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. Sell-side analysts anticipate that Incyte Co. will post 3.57 EPS for the current year.

Insider Buying and Selling at Incyte

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Incyte in a research note on Friday, February 23rd. They set a “buy” rating and a $81.00 price target for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Incyte in a research note on Thursday, May 23rd. They set a “hold” rating and a $55.00 price target for the company. TD Cowen dropped their price target on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.69.

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.