Ieq Capital LLC Raises Position in Incyte Co. (NASDAQ:INCY)

Ieq Capital LLC raised its position in Incyte Co. (NASDAQ:INCY - Free Report) by 1,342.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,536 shares of the biopharmaceutical company's stock after acquiring an additional 128,932 shares during the quarter. Ieq Capital LLC owned approximately 0.07% of Incyte worth $9,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in Incyte during the 3rd quarter valued at about $156,611,000. Mizuho Securities USA LLC grew its position in shares of Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company's stock worth $132,207,000 after buying an additional 1,985,726 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company's stock valued at $106,369,000 after buying an additional 364,169 shares during the period. Bridgewater Associates LP increased its stake in shares of Incyte by 142.8% during the third quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company's stock valued at $20,401,000 after buying an additional 181,504 shares during the period. Finally, Point72 Europe London LLP bought a new position in shares of Incyte during the third quarter valued at approximately $5,975,000. 96.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INCY. The Goldman Sachs Group lifted their price target on shares of Incyte from $63.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on shares of Incyte from $64.00 to $69.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated a "neutral" rating on shares of Incyte in a report on Friday, January 10th. Stifel Nicolaus upped their target price on Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Finally, JMP Securities restated a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Incyte has an average rating of "Hold" and an average price target of $75.59.

Incyte Stock Up 0.9 %

Shares of NASDAQ INCY traded up $0.67 during midday trading on Friday, hitting $72.05. The stock had a trading volume of 1,514,741 shares, compared to its average volume of 1,623,589. The business's 50 day moving average is $71.17 and its 200-day moving average is $69.33. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market cap of $13.94 billion, a P/E ratio of 266.87, a PEG ratio of 0.40 and a beta of 0.70.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (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%. As a group, analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Insider Activity

In other news, insider Thomas Tray sold 650 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock valued at $1,444,356 over the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

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.