Proficio Capital Partners LLC Purchases Shares of 51,388 Incyte Co. (NASDAQ:INCY)

Proficio Capital Partners LLC acquired a new position in Incyte Co. (NASDAQ:INCY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 51,388 shares of the biopharmaceutical company’s stock, valued at approximately $3,549,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. purchased a new stake in Incyte in the 4th quarter worth $26,000. Global X Japan Co. Ltd. boosted its holdings 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 purchased a new stake in Incyte during the 4th quarter worth approximately $30,000. Brooklyn Investment Group acquired a new position in shares of Incyte during the third quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte in the third quarter valued at approximately $33,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INCY has been the subject of several recent research reports. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Wells Fargo & Company boosted their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Finally, Stifel Nicolaus boosted their target price on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Incyte currently has a consensus rating of “Hold” and an average target price of $75.25.

Insider Activity at Incyte

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,020 shares of company stock worth $1,981,882 over the last 90 days. Company insiders own 17.60% of the company’s stock.

Incyte Price Performance

Shares of INCY opened at $62.01 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. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The stock has a market cap of $12.00 billion, a PE ratio of 229.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The firm has a fifty day moving average price of $71.55 and a 200 day moving average price of $70.31.

Incyte (NASDAQ:INCY) last issued its quarterly 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, sell-side analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

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.