49,161 Shares in Incyte Co. (NASDAQ:INCY) Bought by Tri Ri Asset Management Corp

Tri Ri Asset Management Corp bought a new position in shares of Incyte Co. (NASDAQ:INCY) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 49,161 shares of the biopharmaceutical company’s stock, valued at approximately $3,292,000. Incyte makes up about 1.7% of Tri Ri Asset Management Corp’s investment portfolio, making the stock its 24th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Haverford Trust Co boosted its position in shares of Incyte by 1.8% during the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after acquiring an additional 135 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Incyte by 4.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 155 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in shares of Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 164 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Incyte by 4.0% during the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after acquiring an additional 182 shares in the last quarter. Finally, Tectonic Advisors LLC boosted its position in shares of Incyte by 1.6% during the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after acquiring an additional 190 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INCY has been the subject of several analyst reports. Oppenheimer upped their price objective on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. BMO Capital Markets reissued an “underperform” rating and issued a $52.00 target price (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Guggenheim upped their target price on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Wolfe Research assumed coverage on Incyte in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $77.16.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction 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 approximately $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.60% of the company’s stock.

Incyte Stock Performance

Shares of INCY stock opened at $70.83 on Friday. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 505.96, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69. The stock has a 50 day simple moving average of $72.12 and a 200-day simple moving average of $66.10. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. On average, equities analysts forecast that Incyte Co. will post 0.4 EPS for the current 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.