VCI Wealth Management LLC Invests $1.03 Million in Incyte Co. (NASDAQ:INCY)

VCI Wealth Management LLC bought a new position in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,844 shares of the biopharmaceutical company’s stock, valued at approximately $1,025,000.

Several other large investors have also made changes to their positions in INCY. Union Bancaire Privee UBP SA purchased a new stake in shares of Incyte during the fourth quarter worth approximately $311,000. Blue Trust Inc. grew its holdings in Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 329 shares in the last quarter. Patton Albertson Miller Group LLC grew its holdings in Incyte by 10.9% in the 4th quarter. Patton Albertson Miller Group LLC now owns 87,329 shares of the biopharmaceutical company’s stock valued at $6,032,000 after buying an additional 8,586 shares in the last quarter. Fifth Third Bancorp grew its holdings in Incyte by 6.4% in the 4th quarter. Fifth Third Bancorp now owns 8,924 shares of the biopharmaceutical company’s stock valued at $616,000 after buying an additional 533 shares in the last quarter. Finally, CX Institutional grew its holdings in shares of Incyte by 15.9% during the 4th quarter. CX Institutional now owns 3,902 shares of the biopharmaceutical company’s stock worth $270,000 after purchasing an additional 535 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction dated 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 trade represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,375 shares of company stock valued at $1,737,578 over the last three months. 17.60% of the stock is currently owned by insiders.

Incyte Stock Performance

Shares of INCY stock opened at $72.64 on Tuesday. 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 $13.99 billion, a PE ratio of 518.89, a P/E/G ratio of 0.53 and a beta of 0.71. The stock has a fifty day moving average price of $71.69 and a 200 day moving average price of $68.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm earned $0.91 earnings per share. The business’s revenue was up 23.8% compared to the same quarter last year. Sell-side analysts forecast that Incyte Co. will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on INCY. JPMorgan Chase & Co. increased their target price on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on Incyte in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price target on the stock. Morgan Stanley increased their price objective on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Finally, 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 note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.71.

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.