Merlin Capital Inc Invests $230,000 in Incyte Co. (NASDAQ:INCY)

Merlin Capital Inc purchased a new stake in shares of Incyte Co. (NASDAQ:INCY) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 3,659 shares of the biopharmaceutical company’s stock, valued at approximately $230,000.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Incyte during the fourth quarter valued at $31,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Incyte by 157.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 472 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Incyte by 40.0% in the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 229 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Incyte in the third quarter worth about $83,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

INCY traded down $0.79 during trading hours on Tuesday, hitting $51.77. 2,081,679 shares of the stock were exchanged, compared to its average volume of 1,742,590. The stock has a 50-day simple moving average of $56.67 and a 200-day simple moving average of $57.68. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $75.74. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.20 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. Incyte’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the business posted $0.44 earnings per share. Analysts anticipate that Incyte Co. will post 3.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of research reports. Oppenheimer lowered their price objective on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Bank of America cut their price target on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Truist Financial dropped their price objective on shares of Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 price objective on shares of Incyte in a research note on Monday, March 25th. Finally, JMP Securities lowered Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

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.