Ruffer LLP Purchases Shares of 80,059 Incyte Co. (NASDAQ:INCY)

Ruffer LLP acquired a new position in Incyte Co. (NASDAQ:INCY) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 80,059 shares of the biopharmaceutical company’s stock, valued at approximately $5,530,000.

A number of other institutional investors have also made changes to their positions in the business. AlphaQuest LLC raised its position in shares of Incyte by 163.5% in the fourth quarter. AlphaQuest LLC now owns 6,019 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 3,735 shares in the last quarter. Amundi lifted its holdings in shares of Incyte by 28.9% during the fourth quarter. Amundi now owns 670,350 shares of the biopharmaceutical company’s stock worth $49,023,000 after purchasing an additional 150,431 shares during the period. Andra AP fonden lifted its holdings in shares of Incyte by 7.9% during the fourth quarter. Andra AP fonden now owns 212,500 shares of the biopharmaceutical company’s stock worth $14,677,000 after purchasing an additional 15,500 shares during the period. Edgestream Partners L.P. lifted its holdings in Incyte by 173.0% in the fourth quarter. Edgestream Partners L.P. now owns 61,174 shares of the biopharmaceutical company’s stock valued at $4,225,000 after buying an additional 38,766 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Incyte in the fourth quarter valued at $717,000. Institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the business’s 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 sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,320 shares of company stock worth $2,072,849. 17.60% of the stock is owned by company insiders.

Incyte Stock Performance

Shares of INCY opened at $70.79 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 262.19, a PEG ratio of 0.41 and a beta of 0.76. The stock has a 50 day moving average of $71.82 and a 200 day moving average of $70.16. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates 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 forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Wells Fargo & Company lifted their price target on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Royal Bank of Canada decreased their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, UBS Group assumed coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus target price of $75.25.

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.