Elo Mutual Pension Insurance Co Purchases 5,039 Shares of Incyte Co. (NASDAQ:INCY)

Elo Mutual Pension Insurance Co boosted its holdings in Incyte Co. (NASDAQ:INCY) by 34.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,501 shares of the biopharmaceutical company’s stock after acquiring an additional 5,039 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Incyte were worth $1,347,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INCY. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte during the fourth quarter valued at $26,000. Global X Japan Co. Ltd. raised its position in Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the last quarter. R Squared Ltd bought a new position in Incyte during the 4th quarter valued at about $30,000. Brooklyn Investment Group purchased a new stake in shares of Incyte during the 3rd quarter valued at about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Incyte in the third quarter worth approximately $33,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INCY. Wells Fargo & Company increased their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. William Blair downgraded Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. Royal Bank of Canada cut their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday, February 11th. Citigroup lowered their target price on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Truist Financial cut their price target on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.88.

Incyte Price Performance

NASDAQ:INCY opened at $60.60 on Monday. The business’s 50-day simple moving average is $69.53 and its two-hundred day simple moving average is $70.14. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The stock has a market cap of $11.73 billion, a PE ratio of 224.45, a P/E/G ratio of 0.41 and a beta of 0.76. 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 issued its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) 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, analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Activity

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

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.