Empowered Funds LLC Grows Position in Incyte Co. (NASDAQ:INCY)

Empowered Funds LLC grew its position in shares of Incyte Co. (NASDAQ:INCY) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,557 shares of the biopharmaceutical company’s stock after purchasing an additional 1,476 shares during the quarter. Empowered Funds LLC’s holdings in Incyte were worth $1,627,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. increased its position in shares of Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Incyte during the 3rd quarter valued at about $30,000. R Squared Ltd bought a new position in shares of Incyte during the 4th quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte during the 3rd quarter valued at about $33,000. Finally, Cromwell Holdings LLC increased its position in shares of Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 283 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INCY has been the topic of several recent research reports. Morgan Stanley raised their price target on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and raised their price target for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. The Goldman Sachs Group raised their price target on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price target on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Incyte presently has an average rating of “Hold” and a consensus target price of $75.59.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction 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 completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,695 shares of company stock worth $1,444,356. 17.60% of the stock is owned by insiders.

Incyte Trading Up 0.6 %

INCY opened at $70.42 on Friday. The business has a 50 day moving average of $71.26 and a 200-day moving average of $69.18. The stock has a market cap of $13.63 billion, a PE ratio of 503.04, a PEG ratio of 0.53 and a beta of 0.70. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Equities research analysts predict that Incyte Co. will post 0.35 earnings per share for the current fiscal 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.