Incyte Co. (NASDAQ:INCY) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its holdings in Incyte Co. (NASDAQ:INCY) by 45.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,708 shares of the biopharmaceutical company’s stock after purchasing an additional 11,120 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Incyte were worth $2,466,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of INCY. Pacer Advisors Inc. grew its holdings in Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after buying an additional 2,676,851 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Incyte during the third quarter valued at $156,611,000. Mizuho Securities USA LLC boosted its stake in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after acquiring an additional 1,985,726 shares during the last quarter. AQR Capital Management LLC increased its position in Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Incyte by 2,486.8% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock valued at $23,923,000 after purchasing an additional 379,390 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Tray sold 650 shares of the company’s stock in a transaction dated 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. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,023 shares of company stock valued at $839,711. Corporate insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Royal Bank of Canada upped their target price on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, November 14th. Finally, JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.29.

Incyte Trading Down 0.7 %

NASDAQ:INCY opened at $71.93 on Friday. The business’s 50-day moving average is $72.36 and its two-hundred day moving average is $67.92. The firm has a market capitalization of $13.86 billion, a PE ratio of 513.82, a price-to-earnings-growth ratio of 0.51 and a beta of 0.71. Incyte Co. has a 12 month low of $50.35 and a 12 month 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.

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