Haven Capital Group Inc. Invests $1.39 Million in Incyte Co. (NASDAQ:INCY)

Haven Capital Group Inc. acquired a new position in shares of Incyte Co. (NASDAQ:INCY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,142 shares of the biopharmaceutical company's stock, valued at approximately $1,391,000. Incyte comprises about 1.3% of Haven Capital Group Inc.'s portfolio, making the stock its 20th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in Incyte in the third quarter worth about $156,611,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Incyte by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company's stock worth $113,487,000 after acquiring an additional 33,847 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Incyte by 7.5% during the 4th 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 acquiring an additional 78,827 shares during the period. Candriam S.C.A. grew its position in Incyte by 27.8% in the 4th quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company's stock valued at $71,463,000 after acquiring an additional 224,919 shares during the last quarter. Finally, Barclays PLC increased its stake in Incyte by 8.1% in the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock worth $68,208,000 after purchasing an additional 77,542 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on INCY. William Blair lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday. Stifel Nicolaus upped their target price on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research note on Monday, February 10th. StockNews.com downgraded shares of Incyte from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Citigroup dropped their price objective on Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their target price on Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $75.13.

Incyte Stock Up 2.2 %

Incyte stock traded up $1.34 during midday trading on Friday, reaching $61.92. The company's stock had a trading volume of 4,332,207 shares, compared to its average volume of 2,258,364. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The stock has a market capitalization of $11.98 billion, a P/E ratio of 229.34, a PEG ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The stock's 50-day simple moving average is $70.78 and its 200-day simple moving average is $70.13.

Incyte (NASDAQ:INCY - Get Free Report) last announced 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 net margin of 0.77% and a return on equity of 0.05%. On average, sell-side analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sheila A. Denton sold 14,069 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the transaction, the executive vice president now directly owns 25,848 shares of the company's stock, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,827 shares of company stock valued at $3,322,618 in the last ninety days. Company 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.