Koss Olinger Consulting LLC Invests $1.68 Million in Incyte Co. (NASDAQ:INCY)

Koss Olinger Consulting LLC purchased a new position in Incyte Co. (NASDAQ:INCY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 24,283 shares of the biopharmaceutical company’s stock, valued at approximately $1,677,000.

A number of other hedge funds have also recently made changes to their positions in INCY. Vinva Investment Management Ltd raised its holdings in Incyte by 827.1% in the 4th quarter. Vinva Investment Management Ltd now owns 112,259 shares of the biopharmaceutical company’s stock worth $7,681,000 after acquiring an additional 100,151 shares during the last quarter. Compass Ion Advisors LLC raised its holdings in Incyte by 293.5% in the 4th quarter. Compass Ion Advisors LLC now owns 13,894 shares of the biopharmaceutical company’s stock worth $960,000 after acquiring an additional 10,363 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in Incyte in the 4th quarter worth approximately $2,658,000. Horizon Investments LLC raised its holdings in Incyte by 9.5% in the 4th quarter. Horizon Investments LLC now owns 2,376 shares of the biopharmaceutical company’s stock worth $164,000 after acquiring an additional 206 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Incyte by 314.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 30,377 shares of the biopharmaceutical company’s stock worth $2,098,000 after acquiring an additional 23,045 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This represents a 35.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,827 shares of company stock valued at $3,322,618. Company insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on INCY shares. William Blair lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada decreased their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their target price on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Finally, Guggenheim lowered shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price for the company. in a research note on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.13.

Incyte Trading Down 3.2 %

NASDAQ:INCY opened at $60.00 on Wednesday. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 222.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The business has a fifty day moving average price of $71.29 and a 200-day moving average price of $70.27. Incyte Co. has a one year low of $50.35 and a one year high of $83.95.

Incyte (NASDAQ:INCY) last issued its earnings results 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 return on equity of 0.05% and a net margin of 0.77%. Sell-side analysts forecast that Incyte Co. will post 4.86 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.