Forefront Analytics LLC Increases Position in Incyte Co. (NASDAQ:INCY)

Forefront Analytics LLC grew its stake in Incyte Co. (NASDAQ:INCY) by 11.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,158 shares of the biopharmaceutical company’s stock after acquiring an additional 627 shares during the quarter. Forefront Analytics LLC’s holdings in Incyte were worth $373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Incyte by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock valued at $1,294,120,000 after acquiring an additional 196,440 shares during the period. Acadian Asset Management LLC grew its stake in Incyte by 28.0% during the 2nd 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 during the last quarter. LSV Asset Management grew its stake in Incyte by 0.5% during the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after buying an additional 15,115 shares during the last quarter. Pacer Advisors Inc. grew its stake in Incyte by 17,460.4% during the 2nd 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 during the last quarter. Finally, AQR Capital Management LLC grew its stake in Incyte by 70.5% during the 2nd 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 during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INCY. Truist Financial restated a “hold” rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Oppenheimer dropped their target price on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.24.

Insider Buying and Selling

In related news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Barry P. Flannelly sold 1,306 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total value of $83,832.14. Following the completion of the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $3,725,715.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,047 shares of company stock valued at $2,225,626. 17.50% of the stock is owned by company insiders.

Incyte Stock Performance

Shares of INCY stock opened at $65.83 on Friday. The stock has a market cap of $14.78 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. The business has a 50-day simple moving average of $64.31 and a 200-day simple moving average of $59.96. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $70.36.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. On average, equities analysts expect that Incyte Co. will post 0.66 EPS for the current year.

Incyte Company 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.