42,000 Shares in Incyte Co. (NASDAQ:INCY) Purchased by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. purchased a new position in Incyte Co. (NASDAQ:INCY) during the 4th quarter, Holdings Channel reports. The fund purchased 42,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,901,000. Incyte makes up 0.9% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 23rd biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its position in 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 period. Brooklyn Investment Group purchased a new position in Incyte during the 3rd quarter valued at about $30,000. R Squared Ltd purchased a new position in Incyte during the 4th quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte during the 3rd quarter valued at about $33,000. Finally, Cromwell Holdings LLC increased its position in 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 period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $70.16 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a 50 day simple moving average of $71.20 and a two-hundred day simple moving average of $69.31. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 259.86, a PEG ratio of 0.40 and a beta of 0.70.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 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, analysts predict that Incyte Co. will post 4.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INCY. JPMorgan Chase & Co. raised their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Oppenheimer raised their price target on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and raised their price target for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Finally, Citigroup lowered their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus target price of $75.59.

Insider Buying and Selling at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the transaction, the insider now directly owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,695 shares of company stock worth $1,444,356. Company insiders own 17.60% 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.