MBB Public Markets I LLC Takes Position in Incyte Co. (NASDAQ:INCY)

MBB Public Markets I LLC bought a new stake in shares of Incyte Co. (NASDAQ:INCY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,703 shares of the biopharmaceutical company’s stock, valued at approximately $891,000.

Several other hedge funds have also recently made changes to their positions in INCY. Deseret Mutual Benefit Administrators boosted its position in shares of Incyte by 37.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 164 shares in the last quarter. Moody National Bank Trust Division boosted its position in shares of Incyte by 1.3% during the second quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 179 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of 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 purchasing an additional 182 shares in the last quarter. 180 Wealth Advisors LLC boosted its position in shares of Incyte by 4.5% during the first quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock valued at $271,000 after purchasing an additional 204 shares in the last quarter. Finally, Empirical Finance LLC boosted its position in shares of Incyte by 3.7% during the first quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock valued at $364,000 after purchasing an additional 230 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Up 0.4 %

Shares of NASDAQ:INCY opened at $66.10 on Tuesday. The company has a market cap of $14.84 billion, a P/E ratio of 20.03, a PEG ratio of 5.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $70.36. The stock’s fifty day moving average price is $64.33 and its 200-day moving average price is $60.02.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INCY. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Truist Financial restated a “hold” rating and set a $74.00 price target (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their target price on Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Guggenheim boosted their target price on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, BMO Capital Markets reissued an “underperform” rating and issued a $48.00 target price (down from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.24.

Insider Activity at Incyte

In related news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $3,725,715.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,047 shares of company stock worth $2,225,626. 17.50% of the stock is owned by 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.