Impact Investors Inc Buys New Stake in Incyte Co. (NASDAQ:INCY)

Impact Investors Inc purchased a new position in shares of Incyte Co. (NASDAQ:INCY) during the fourth quarter, Holdings Channel.com reports. The fund purchased 8,408 shares of the biopharmaceutical company’s stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Incyte during the 4th quarter worth about $42,000. Los Angeles Capital Management LLC raised its holdings in Incyte by 94.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 407,201 shares of the biopharmaceutical company’s stock worth $28,125,000 after purchasing an additional 197,406 shares during the period. FourThought Financial Partners LLC purchased a new position in Incyte during the fourth quarter worth approximately $253,000. Bank of New York Mellon Corp grew its holdings in Incyte by 7.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company’s stock valued at $77,877,000 after purchasing an additional 78,827 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Incyte in the fourth quarter valued at approximately $2,422,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Trading Up 0.5 %

Shares of Incyte stock opened at $74.40 on Wednesday. The firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 275.57, a PEG ratio of 0.41 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The stock has a 50 day moving average of $71.42 and a 200 day moving average of $69.70.

Incyte (NASDAQ:INCY) last issued 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 return on equity of 0.05% and a net margin of 0.77%. As a group, research analysts predict that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares in the company, valued at $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 SEC, which is available at the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction on Tuesday, January 21st. The shares were 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 in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock valued at $1,444,356 in the last three months. 17.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INCY has been the topic of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price objective (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Stifel Nicolaus lifted their price target on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, The Goldman Sachs Group raised their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.25.

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.