Claro Advisors LLC purchased a new stake in shares of Incyte Co. (NASDAQ:INCY – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,698 shares of the biopharmaceutical company’s stock, valued at approximately $255,000.
Several other hedge funds have also recently added to or reduced their stakes in INCY. Czech National Bank raised its holdings in shares of Incyte by 6.5% during the 4th quarter. Czech National Bank now owns 34,670 shares of the biopharmaceutical company’s stock valued at $2,395,000 after buying an additional 2,106 shares in the last quarter. CWA Asset Management Group LLC bought a new position in Incyte during the fourth quarter valued at approximately $1,933,000. Nordea Investment Management AB raised its stake in shares of Incyte by 9.2% during the fourth quarter. Nordea Investment Management AB now owns 13,738 shares of the biopharmaceutical company’s stock worth $945,000 after acquiring an additional 1,153 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Incyte during the fourth quarter worth approximately $265,000. Finally, GAMMA Investing LLC boosted its stake in shares of Incyte by 18.3% in the 4th quarter. GAMMA Investing LLC now owns 5,764 shares of the biopharmaceutical company’s stock valued at $398,000 after purchasing an additional 890 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.
Wall Street Analysts Forecast Growth
INCY has been the topic of a number of analyst reports. Citigroup lifted their target price on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. The Goldman Sachs Group increased their target price on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Finally, Truist Financial reissued a “hold” rating and set a $74.00 price objective (down previously from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus price target of $76.29.
Insider Transactions at Incyte
In related news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now owns 23,312 shares of the company’s stock, valued at $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’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 transaction of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,023 shares of company stock valued at $839,711 in the last three months. 17.60% of the stock is currently owned by company insiders.
Incyte Stock Performance
Incyte stock opened at $72.46 on Thursday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The stock has a market cap of $13.96 billion, a price-to-earnings ratio of 517.61, a PEG ratio of 7.90 and a beta of 0.71. The stock’s 50 day simple moving average is $72.95 and its two-hundred day simple moving average is $67.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.
Incyte (NASDAQ:INCY – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, analysts expect that Incyte Co. will post 0.4 earnings per share for the current fiscal year.
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.
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