Claro Advisors LLC Takes Position in Incyte Co. (NASDAQ:INCY)

Claro Advisors LLC acquired a new stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,698 shares of the biopharmaceutical company's stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. CWA Asset Management Group LLC bought a new position in Incyte in the fourth quarter valued at approximately $1,933,000. Orion Portfolio Solutions LLC bought a new stake in Incyte in the 3rd quarter valued at $770,000. Greenwood Capital Associates LLC bought a new position in Incyte during the 3rd quarter worth about $433,000. Tri Ri Asset Management Corp bought a new position in Incyte during the 3rd quarter worth about $3,292,000. Finally, Cypress Capital Group acquired a new stake in shares of Incyte in the 3rd quarter valued at about $971,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a report on Friday, January 10th. Bank of America upgraded shares of Incyte from a "neutral" rating to a "buy" rating and increased their target price for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Oppenheimer lifted their price target on shares of Incyte from $81.00 to $82.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, Wolfe Research initiated coverage on shares of Incyte in a research note on Tuesday, October 1st. They set an "outperform" rating and a $84.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $76.29.

Incyte Stock Performance

Shares of INCY traded up $0.01 during trading hours on Thursday, hitting $72.47. The company had a trading volume of 1,099,995 shares, compared to its average volume of 1,540,569. The business has a fifty day moving average of $72.78 and a 200-day moving average of $67.81. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of 517.68, a PEG ratio of 0.51 and a beta of 0.71. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. 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 prior year, the company earned $0.91 earnings per share. The firm's revenue was up 23.8% compared to the same quarter last year. Equities analysts anticipate that Incyte Co. will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,023 shares of company stock valued at $839,711. Insiders own 17.60% of the company's stock.

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.