Everence Capital Management Inc. Takes Position in Incyte Co. (NASDAQ:INCY)

Everence Capital Management Inc. bought a new position in shares of Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,830 shares of the biopharmaceutical company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Incyte by 18.3% during the 4th quarter. GAMMA Investing LLC now owns 5,764 shares of the biopharmaceutical company’s stock worth $398,000 after buying an additional 890 shares during the period. Tri Ri Asset Management Corp bought a new stake in Incyte during the third quarter valued at about $3,292,000. Toronto Dominion Bank grew its position in shares of Incyte by 16.9% in the third quarter. Toronto Dominion Bank now owns 54,084 shares of the biopharmaceutical company’s stock valued at $3,575,000 after purchasing an additional 7,812 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Incyte in the third quarter worth about $302,000. Finally, Barclays PLC lifted its position in shares of Incyte by 8.1% during the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock worth $68,208,000 after purchasing an additional 77,542 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas Tray sold 650 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the transaction, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % 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 owned by corporate insiders.

Incyte Stock Performance

Incyte stock opened at $73.19 on Wednesday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The stock has a fifty day moving average price of $73.27 and a two-hundred day moving average price of $67.42. The firm has a market capitalization of $14.10 billion, a P/E ratio of 522.82, a P/E/G ratio of 7.90 and a beta of 0.71.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. As a group, analysts anticipate that Incyte Co. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on INCY. Guggenheim lifted their price target on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Wolfe Research started coverage on shares of Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price objective for the company. Finally, Oppenheimer boosted their price target on Incyte from $81.00 to $82.00 and gave the company 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 assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.29.

Incyte 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.