23,337 Shares in Incyte Co. (NASDAQ:INCY) Purchased by Entropy Technologies LP

Entropy Technologies LP bought a new stake in Incyte Co. (NASDAQ:INCY) during the fourth quarter, Holdings Channel.com reports. The fund bought 23,337 shares of the biopharmaceutical company’s stock, valued at approximately $1,612,000.

Other institutional investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its stake in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the last quarter. R Squared Ltd bought a new stake in Incyte in the 4th quarter valued at $30,000. Brooklyn Investment Group acquired a new stake in Incyte in the 3rd quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte during the 3rd quarter worth about $33,000. Finally, Cromwell Holdings LLC raised its position in shares of Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 283 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Incyte Price Performance

Incyte stock opened at $74.13 on Monday. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The firm has a market cap of $14.28 billion, a P/E ratio of 529.54, a P/E/G ratio of 0.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The business’s fifty day moving average is $71.79 and its two-hundred day moving average is $69.16.

Insider Buying and Selling

In other news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the sale, the insider now owns 23,962 shares in the company, valued at $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock worth $1,444,356 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

INCY has been the topic of a number of recent research reports. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Oppenheimer raised their target price on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their price objective on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.