Gateway Investment Advisers LLC Makes New $205,000 Investment in Incyte Co. (NASDAQ:INCY)

Gateway Investment Advisers LLC bought a new position in Incyte Co. (NASDAQ:INCY) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,594 shares of the biopharmaceutical company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Incyte by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 22,519,381 shares of the biopharmaceutical company’s stock worth $1,413,992,000 after acquiring an additional 359,962 shares during the period. LSV Asset Management lifted its stake in shares of Incyte by 119.6% in the 4th quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock worth $169,020,000 after acquiring an additional 1,465,792 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Incyte by 17.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,085,465 shares of the biopharmaceutical company’s stock worth $120,477,000 after acquiring an additional 313,731 shares during the period. Norges Bank acquired a new stake in shares of Incyte in the 4th quarter worth approximately $123,253,000. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Incyte by 37.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,570,296 shares of the biopharmaceutical company’s stock worth $98,599,000 after acquiring an additional 424,934 shares during the period. Institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction that occurred 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 owns 21,634 shares in the company, valued at approximately $1,274,458.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Thomas Tray sold 1,093 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the transaction, the insider now owns 21,634 shares in the company, valued at approximately $1,274,458.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction 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 transaction, the executive vice president now owns 66,377 shares in the company, valued at approximately $3,982,620. The disclosure for this sale can be found here. Company insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INCY. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Tuesday, June 18th. Bank of America cut their target price 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Incyte in a research note on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price for the company. Finally, TD Cowen cut their target price 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. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.69.

Incyte Stock Down 2.1 %

Shares of NASDAQ:INCY opened at $61.75 on Thursday. The company has a market cap of $13.87 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.36 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The firm has a 50 day simple moving average of $56.89 and a 200 day simple moving average of $58.70. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $67.36.

Incyte (NASDAQ:INCY) last released 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 during the quarter, compared to analyst estimates of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. As a group, research analysts expect that Incyte Co. will post 3.57 earnings per share for the current year.

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.