5,645 Shares in Incyte Co. (NASDAQ:INCY) Purchased by MQS Management LLC

MQS Management LLC bought a new position in Incyte Co. (NASDAQ:INCY) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,645 shares of the biopharmaceutical company’s stock, valued at approximately $322,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Incyte by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 88,489 shares of the biopharmaceutical company’s stock worth $5,112,000 after purchasing an additional 11,173 shares in the last quarter. CX Institutional bought a new stake in Incyte in the 4th quarter worth about $212,000. SG Americas Securities LLC grew its position in Incyte by 345.9% in the 4th quarter. SG Americas Securities LLC now owns 37,791 shares of the biopharmaceutical company’s stock worth $2,373,000 after purchasing an additional 29,315 shares in the last quarter. Raymond James & Associates bought a new stake in Incyte in the 4th quarter worth about $2,291,000. Finally, Assenagon Asset Management S.A. grew its position in Incyte by 153.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 634,623 shares of the biopharmaceutical company’s stock worth $39,848,000 after purchasing an additional 384,488 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

NASDAQ INCY traded up $0.33 on Friday, hitting $68.90. The stock had a trading volume of 360,254 shares, compared to its average volume of 2,534,564. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $70.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The company has a market capitalization of $15.47 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.73. The firm has a 50-day moving average of $60.80 and a 200-day moving average of $58.70.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.31). The firm had revenue of $880.89 million during the quarter, compared to analysts’ expectations of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. Equities analysts expect that Incyte Co. will post 3.66 EPS for the current year.

Insider Activity

In other news, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the sale, the executive vice president now owns 66,377 shares in the company, valued at approximately $3,982,620. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the transaction, the executive vice president now owns 66,377 shares of the company’s stock, valued at approximately $3,982,620. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thomas Tray sold 1,093 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the transaction, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,711 shares of company stock worth $1,786,941. 17.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on INCY shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Incyte in a research report on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price for the company. TD Cowen reduced their target price on shares of Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Tuesday, June 18th. Finally, Oppenheimer dropped their price target on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.44.

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.