Incyte Co. (NASDAQ:INCY) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Incyte Co. (NASDAQ:INCY) by 70.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,874 shares of the biopharmaceutical company’s stock after purchasing an additional 2,010 shares during the period. GAMMA Investing LLC’s holdings in Incyte were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of INCY. Pacer Advisors Inc. raised its position in Incyte by 17,460.4% in the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after purchasing an additional 2,676,851 shares in the last quarter. AQR Capital Management LLC raised its position in Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after purchasing an additional 1,101,041 shares in the last quarter. Acadian Asset Management LLC raised its position in Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after purchasing an additional 779,243 shares in the last quarter. Swedbank AB acquired a new stake in shares of Incyte during the 1st quarter worth about $37,440,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Incyte by 122.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock worth $54,116,000 after acquiring an additional 490,680 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of several research analyst reports. BMO Capital Markets reissued an “underperform” rating and set a $48.00 target price (down previously from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft raised their target price on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Bank of America raised their target price on Incyte from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Finally, Wolfe Research began coverage on Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.21.

Insider Activity at Incyte

In related news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the sale, the executive vice president now directly owns 36,701 shares in the company, valued at $2,569,070. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the sale, the executive vice president now directly owns 36,701 shares in the company, valued at $2,569,070. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,899 shares of company stock worth $1,736,746 over the last three months. 17.50% of the stock is currently owned by corporate insiders.

Incyte Trading Down 0.6 %

Shares of INCY stock opened at $65.37 on Friday. The business’s 50 day moving average is $64.25 and its two-hundred day moving average is $60.45. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $70.36. The company has a market capitalization of $14.68 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast 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.