Stevens Capital Management LP Purchases Shares of 3,039 Incyte Co. (NASDAQ:INCY)

Stevens Capital Management LP acquired a new position in shares of Incyte Co. (NASDAQ:INCY) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 3,039 shares of the biopharmaceutical company’s stock, valued at approximately $210,000.

Several other hedge funds have also modified their holdings of INCY. Quintet Private Bank Europe S.A. acquired a new position in shares of Incyte in the 4th quarter valued at $26,000. Global X Japan Co. Ltd. raised its position in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the period. Brooklyn Investment Group acquired a new position in Incyte in the third quarter valued at $30,000. R Squared Ltd purchased a new stake in Incyte during the fourth quarter valued at about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte during the third quarter worth about $33,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on INCY shares. UBS Group assumed coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective on the stock. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Truist Financial cut their target price on shares of Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Wells Fargo & Company upped their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Finally, JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.88.

Incyte Stock Up 1.4 %

INCY stock opened at $62.78 on Tuesday. The firm has a market cap of $12.15 billion, a price-to-earnings ratio of 232.53, a PEG ratio of 0.41 and a beta of 0.76. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The firm has a fifty day moving average price of $70.42 and a two-hundred day moving average price of $70.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

Incyte (NASDAQ:INCY) last announced 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%. Research analysts predict that Incyte Co. will post 4.86 EPS for the current year.

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.