Inceptionr LLC Makes New Investment in Incyte Co. (NASDAQ:INCY)

Inceptionr LLC acquired a new position in shares of Incyte Co. (NASDAQ:INCY) during the 4th quarter, Holdings Channel.com reports. The fund acquired 12,214 shares of the biopharmaceutical company’s stock, valued at approximately $844,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte in the fourth quarter valued at about $26,000. Global X Japan Co. Ltd. boosted its holdings in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Incyte in the fourth quarter valued at about $30,000. Brooklyn Investment Group purchased a new stake in shares of Incyte in the third quarter valued at about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte in the third quarter valued at about $33,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 650 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the transaction, the insider now directly owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,320 shares of company stock valued at $2,072,849 over the last 90 days. Insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on INCY shares. Wells Fargo & Company lifted their target price on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Stifel Nicolaus lifted their target price on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. UBS Group assumed coverage on shares of Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Finally, StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight 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 $75.25.

Incyte Stock Performance

Shares of INCY opened at $70.79 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.70 billion, a P/E ratio of 262.19, a PEG ratio of 0.41 and a beta of 0.76. The company has a 50-day moving average of $71.82 and a two-hundred day moving average of $70.12. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, research analysts predict that Incyte Co. will post 4.86 EPS for the current fiscal 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.