1,200 Shares in Incyte Co. (NASDAQ:INCY) Bought by Delphi Management Inc. MA

Delphi Management Inc. MA bought a new position in shares of Incyte Co. (NASDAQ:INCY) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,200 shares of the biopharmaceutical company’s stock, valued at approximately $73,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INCY. MFA Wealth Advisors LLC acquired a new stake in Incyte during the 2nd quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in Incyte during the 1st quarter worth about $28,000. Riverview Trust Co acquired a new stake in Incyte during the 1st quarter worth about $29,000. Fidelis Capital Partners LLC acquired a new stake in Incyte during the 1st quarter worth about $32,000. Finally, Innealta Capital LLC acquired a new stake in Incyte during the 2nd quarter worth about $32,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 8,148 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the transaction, the executive vice president now owns 50,534 shares of the company’s stock, valued at $3,032,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 8,148 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the sale, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The disclosure for this sale can be found here. Insiders sold 34,047 shares of company stock valued at $2,225,626 over the last quarter. 17.50% of the stock is currently owned by insiders.

Incyte Price Performance

Shares of Incyte stock opened at $66.10 on Tuesday. The business has a 50 day simple moving average of $64.33 and a two-hundred day simple moving average of $60.02. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36. The stock has a market capitalization of $14.84 billion, a P/E ratio of 20.03, a PEG ratio of 5.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $0.77 EPS. Incyte’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts predict that Incyte Co. will post 0.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INCY. BMO Capital Markets reaffirmed an “underperform” rating and set a $48.00 price target (down previously from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Oppenheimer decreased their price objective on Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Friday, July 26th. William Blair reissued an “outperform” rating on shares of Incyte in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.24.

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.