FourThought Financial Partners LLC Acquires New Shares in Incyte Co. (NASDAQ:INCY)

FourThought Financial Partners LLC bought a new stake in Incyte Co. (NASDAQ:INCY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,670 shares of the biopharmaceutical company’s stock, valued at approximately $253,000.

Other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Incyte during the 3rd quarter valued at approximately $156,611,000. Mizuho Securities USA LLC grew 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 worth $132,207,000 after buying an additional 1,985,726 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after buying an additional 364,169 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Incyte by 5.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock valued at $83,680,000 after acquiring an additional 70,596 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Incyte by 7.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company’s stock valued at $77,877,000 after acquiring an additional 78,827 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of recent research reports. UBS Group began coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target on the stock. Royal Bank of Canada decreased their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Oppenheimer increased their price objective on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $75.25.

Insider Activity at Incyte

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred 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 directly owns 66,967 shares in the company, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock valued at $1,444,356 in the last three months. Corporate insiders own 17.60% of the company’s stock.

Incyte Stock Down 0.1 %

Incyte stock opened at $74.30 on Thursday. The company has a market capitalization of $14.38 billion, a PE ratio of 275.20, a PEG ratio of 0.41 and a beta of 0.70. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm’s fifty day moving average is $71.56 and its 200 day moving average is $69.73. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

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 the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, sell-side analysts predict that Incyte Co. will post 4.86 EPS for the current fiscal 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.