Whalen Wealth Management Inc. Invests $245,000 in Incyte Co. (NASDAQ:INCY)

Whalen Wealth Management Inc. acquired a new stake in Incyte Co. (NASDAQ:INCY) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,551 shares of the biopharmaceutical company’s stock, valued at approximately $245,000.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after purchasing an additional 1,101,041 shares during the period. Point72 Asset Management L.P. purchased a new position in Incyte in the 3rd quarter valued at approximately $156,611,000. Mizuho Securities USA LLC grew its stake in Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after buying an additional 1,985,726 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Incyte by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after acquiring an additional 364,169 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Incyte by 5.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock worth $83,680,000 after acquiring an additional 70,596 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Down 1.4 %

Shares of INCY opened at $72.41 on Thursday. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The firm has a market cap of $13.95 billion, a P/E ratio of 517.25, a P/E/G ratio of 0.53 and a beta of 0.71. The stock has a 50 day simple moving average of $71.86 and a two-hundred day simple moving average of $68.30. 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 posted 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 business 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. On average, analysts forecast that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INCY. Oppenheimer lifted their price target on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Wells Fargo & Company increased their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Royal Bank of Canada raised their price objective on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. One 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 company. According to MarketBeat, Incyte has an average rating of “Hold” and an average target price of $76.29.

Insider Buying and Selling

In other news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,375 shares of company stock worth $1,737,578 in the last ninety days. 17.60% of the stock is owned by insiders.

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.