CWA Asset Management Group LLC Acquires Shares of 27,984 Incyte Co. (NASDAQ:INCY)

CWA Asset Management Group LLC acquired a new position in Incyte Co. (NASDAQ:INCY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,984 shares of the biopharmaceutical company's stock, valued at approximately $1,933,000.

A number of other hedge funds have also recently added to or reduced their stakes in INCY. Haverford Trust Co boosted its stake in shares of Incyte by 1.8% during the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company's stock worth $515,000 after acquiring an additional 135 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company's stock valued at $262,000 after purchasing an additional 155 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Incyte by 4.0% in the second quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company's stock valued at $287,000 after purchasing an additional 182 shares during the period. Tectonic Advisors LLC lifted its stake in shares of Incyte by 1.6% in the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company's stock worth $819,000 after buying an additional 190 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of Incyte by 4.4% during the 3rd quarter. MML Investors Services LLC now owns 6,063 shares of the biopharmaceutical company's stock worth $401,000 after buying an additional 256 shares during the period. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Price Performance

NASDAQ:INCY traded up $1.28 on Tuesday, reaching $73.19. The stock had a trading volume of 1,852,842 shares, compared to its average volume of 1,597,210. The company has a market capitalization of $14.10 billion, a P/E ratio of 522.82, a price-to-earnings-growth ratio of 7.90 and a beta of 0.71. The stock has a fifty day moving average price of $73.28 and a 200-day moving average price of $67.35. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm's revenue was up 23.8% compared to the same quarter last year. Research analysts forecast that Incyte Co. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INCY. William Blair reissued an "outperform" rating on shares of Incyte in a research report on Friday, December 13th. BMO Capital Markets reiterated an "underperform" rating and set a $52.00 price target (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Incyte from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a research note on Thursday, December 19th. Finally, UBS Group initiated coverage on shares of Incyte in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $76.29.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now directly owns 58,042 shares of the company's stock, valued at $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares of the company's stock, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,023 shares of company stock worth $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.