Contravisory Investment Management Inc. Has $750,000 Stock Holdings in Incyte Co. (NASDAQ:INCY)

Contravisory Investment Management Inc. increased its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 50.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,854 shares of the biopharmaceutical company's stock after purchasing an additional 3,625 shares during the quarter. Contravisory Investment Management Inc.'s holdings in Incyte were worth $750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of Incyte by 24.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,181,269 shares of the biopharmaceutical company's stock valued at $71,617,000 after acquiring an additional 230,665 shares during the last quarter. E Fund Management Co. Ltd. raised its position in shares of Incyte by 92.6% during the second quarter. E Fund Management Co. Ltd. now owns 20,240 shares of the biopharmaceutical company's stock worth $1,227,000 after purchasing an additional 9,733 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Incyte by 6.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,553 shares of the biopharmaceutical company's stock valued at $1,486,000 after purchasing an additional 1,434 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Incyte by 6.1% during the second quarter. Hsbc Holdings PLC now owns 1,240,952 shares of the biopharmaceutical company's stock valued at $75,179,000 after purchasing an additional 70,900 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Incyte in the 2nd quarter valued at $1,882,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INCY has been the subject of a number of analyst reports. Truist Financial reaffirmed a "hold" rating and set a $74.00 price objective (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. JMP Securities restated a "market perform" rating on shares of Incyte in a research report on Tuesday. William Blair reiterated an "outperform" rating on shares of Incyte in a research report on Friday, December 13th. Bank of America raised shares of Incyte from a "neutral" rating to a "buy" rating and boosted their target price for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. Finally, Oppenheimer raised their target price on Incyte from $81.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. One 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $76.29.

Insider Activity

In other Incyte news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the transaction, the insider now directly owns 23,312 shares of the company's stock, valued at $1,615,754.72. The trade was a 2.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the company'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 value of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares of the company's stock, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,023 shares of company stock valued at $839,711. Insiders own 17.60% of the company's stock.

Incyte Stock Up 0.0 %

INCY stock traded up $0.01 during trading hours on Thursday, hitting $72.47. The company's stock had a trading volume of 1,041,625 shares, compared to its average volume of 1,487,306. The company has a market capitalization of $13.96 billion, a PE ratio of 517.68, a price-to-earnings-growth ratio of 0.51 and a beta of 0.71. The stock has a 50 day moving average price of $72.95 and a two-hundred day moving average price of $67.78. 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 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The company's revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities research analysts expect that Incyte Co. will post 0.4 earnings per share for the current year.

Incyte 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.