Incyte Co. (NASDAQ:INCY) Position Increased by Intech Investment Management LLC

Intech Investment Management LLC grew its position in Incyte Co. (NASDAQ:INCY) by 103.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,153 shares of the biopharmaceutical company’s stock after purchasing an additional 53,886 shares during the period. Intech Investment Management LLC’s holdings in Incyte were worth $6,435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Cape Investment Advisory Inc. acquired a new stake in shares of Incyte in the 4th quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in Incyte during the second quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in Incyte during the first quarter valued at about $28,000. Riverview Trust Co acquired a new stake in shares of Incyte in the first quarter worth about $29,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Incyte during the 1st quarter worth about $32,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on INCY shares. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $67.00 price target on shares of Incyte in a research report on Tuesday, September 3rd. Truist Financial restated a “hold” rating and issued a $74.00 price objective (down from $83.00) on shares of Incyte in a research note on Wednesday. Citigroup raised their target price on shares of Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus target price of $73.24.

Incyte Stock Performance

INCY opened at $65.74 on Friday. The stock’s 50 day simple moving average is $64.37 and its 200-day simple moving average is $59.80. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The stock has a market cap of $14.76 billion, a PE ratio of 19.92, a P/E/G ratio of 5.03 and a beta of 0.73. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $70.36.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. Sell-side analysts forecast that Incyte Co. will post 0.67 EPS for the current year.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Barry P. Flannelly sold 8,148 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total value of $488,880.00. Following the sale, the executive vice president now owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. 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. Corporate insiders own 17.50% of the company’s stock.

About Incyte

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.