CWA Asset Management Group LLC Invests $1.93 Million in Incyte Co. (NASDAQ:INCY)

CWA Asset Management Group LLC bought a new position in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 27,984 shares of the biopharmaceutical company’s stock, valued at approximately $1,933,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. Haverford Trust Co grew its holdings in Incyte by 1.8% during the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after buying an additional 135 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 155 shares during the last quarter. Ballentine Partners LLC grew its stake in Incyte by 4.0% during the second quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock valued at $287,000 after acquiring an additional 182 shares in the last quarter. Tectonic Advisors LLC increased its holdings in Incyte by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock valued at $819,000 after acquiring an additional 190 shares during the last quarter. Finally, MML Investors Services LLC lifted its stake in Incyte by 4.4% in the 3rd quarter. MML Investors Services LLC now owns 6,063 shares of the biopharmaceutical company’s stock worth $401,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 3.3 %

NASDAQ INCY opened at $71.91 on Tuesday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company’s 50-day moving average price is $73.28 and its 200-day moving average price is $67.35. The stock has a market cap of $13.85 billion, a PE ratio of 513.68, a PEG ratio of 7.90 and a beta of 0.71. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business’s revenue was up 23.8% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. Equities research analysts forecast that Incyte Co. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

INCY has been the topic of several research reports. Royal Bank of Canada lifted their target price on Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, November 14th. Truist Financial reaffirmed a “hold” rating and set a $74.00 price objective (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. UBS Group initiated coverage on shares of Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price for the company. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and upped their price target for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. Finally, Oppenheimer lifted their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $76.29.

Insiders Place Their Bets

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the transaction, the insider now directly owns 23,962 shares in the company, valued at approximately $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,023 shares of company stock worth $839,711 in the last ninety days. 17.60% of the stock is owned by company insiders.

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.