Hanseatic Management Services Inc. Acquires Shares of 1,110 Incyte Co. (NASDAQ:INCY)

Hanseatic Management Services Inc. bought a new position in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, HoldingsChannel reports. The fund bought 1,110 shares of the biopharmaceutical company’s stock, valued at approximately $77,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of Incyte by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,181,269 shares of the biopharmaceutical company’s stock worth $71,617,000 after purchasing an additional 230,665 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Incyte by 6.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,553 shares of the biopharmaceutical company’s stock worth $1,486,000 after buying an additional 1,434 shares in the last quarter. Intech Investment Management LLC raised its position in Incyte by 103.1% in the 2nd quarter. Intech Investment Management LLC now owns 106,153 shares of the biopharmaceutical company’s stock valued at $6,435,000 after buying an additional 53,886 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Incyte by 53.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 645,889 shares of the biopharmaceutical company’s stock valued at $39,154,000 after acquiring an additional 225,523 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Incyte by 7.2% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 204,910 shares of the biopharmaceutical company’s stock worth $12,420,000 after acquiring an additional 13,686 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the transaction, the insider now directly owns 23,962 shares of the company’s stock, valued at $1,692,675.68. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,023 shares of company stock valued at $839,711 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

Incyte Stock Down 0.7 %

INCY opened at $71.93 on Friday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a market cap of $13.86 billion, a PE ratio of 513.82, a price-to-earnings-growth ratio of 0.51 and a beta of 0.71. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $72.36 and a 200 day moving average of $67.98.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS 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 the consensus estimate of $1.08 billion. During the same period in the previous year, the business earned $0.91 earnings per share. Incyte’s revenue was up 23.8% on a year-over-year basis. On average, sell-side analysts expect that Incyte Co. will post 0.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INCY. The Goldman Sachs Group raised their price target on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 14th. Wolfe Research assumed coverage on Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price objective on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.29.

Incyte Company 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.