CX Institutional Grows Stake in Incyte Co. (NASDAQ:INCY)

CX Institutional raised its stake in Incyte Co. (NASDAQ:INCY) by 15.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,902 shares of the biopharmaceutical company’s stock after purchasing an additional 535 shares during the quarter. CX Institutional’s holdings in Incyte were worth $270,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in INCY. Public Sector Pension Investment Board raised its position in Incyte by 71.5% in the second quarter. Public Sector Pension Investment Board now owns 6,322 shares of the biopharmaceutical company’s stock valued at $383,000 after purchasing an additional 2,636 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Incyte by 32.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,129 shares of the biopharmaceutical company’s stock worth $1,826,000 after acquiring an additional 7,403 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in shares of Incyte during the second quarter worth about $891,000. Forefront Analytics LLC increased its position in shares of Incyte by 11.3% during the second quarter. Forefront Analytics LLC now owns 6,158 shares of the biopharmaceutical company’s stock worth $373,000 after acquiring an additional 627 shares during the last quarter. Finally, Creative Planning increased its position in shares of Incyte by 13.4% during the second quarter. Creative Planning now owns 21,059 shares of the biopharmaceutical company’s stock worth $1,277,000 after acquiring an additional 2,496 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $72.59 on Monday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The stock has a market cap of $13.98 billion, a price-to-earnings ratio of 518.54, a PEG ratio of 0.53 and a beta of 0.71. The stock’s 50 day moving average price is $71.69 and its 200 day moving average price is $68.48. 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Equities research analysts anticipate that Incyte Co. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value 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 $4,624,786.56. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,375 shares of company stock valued at $1,737,578. Corporate insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Wolfe Research assumed coverage on Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 target price on the stock. Wells Fargo & Company lifted their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. The Goldman Sachs Group boosted their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.71.

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.