Y Intercept Hong Kong Ltd Purchases New Position in Incyte Co. (NASDAQ:INCY)

Y Intercept Hong Kong Ltd purchased a new stake in Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 35,060 shares of the biopharmaceutical company’s stock, valued at approximately $2,422,000.

Other large investors have also recently modified their holdings of the company. CWA Asset Management Group LLC purchased a new stake in shares of Incyte in the fourth quarter valued at approximately $1,933,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Incyte in the third quarter valued at approximately $770,000. Greenwood Capital Associates LLC purchased a new stake in shares of Incyte in the third quarter valued at approximately $433,000. Tri Ri Asset Management Corp bought a new position in Incyte in the third quarter worth approximately $3,292,000. Finally, Cypress Capital Group bought a new position in Incyte in the third quarter worth approximately $971,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Activity 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 shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction on Friday, November 29th. The shares were 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 directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock valued at $1,444,356 in the last ninety days. Company insiders own 17.60% of the company’s stock.

Incyte Price Performance

NASDAQ INCY opened at $74.01 on Tuesday. 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 stock’s fifty day moving average price is $71.32 and its 200 day moving average price is $69.60. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 274.12, a PEG ratio of 0.41 and a beta of 0.70.

Incyte (NASDAQ:INCY) last released 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, equities research analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on INCY. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. The Goldman Sachs Group boosted their price objective on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Finally, Royal Bank of Canada reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.25.

Incyte Company 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.