11,655 Shares in Incyte Co. (NASDAQ:INCY) Acquired by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC purchased a new stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,655 shares of the biopharmaceutical company's stock, valued at approximately $770,000.

Several other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company's stock valued at $163,200,000 after buying an additional 2,676,851 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Incyte during the third quarter valued at approximately $156,611,000. Mizuho Securities USA LLC raised its position in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company's stock valued at $132,207,000 after buying an additional 1,985,726 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company's stock valued at $159,905,000 after buying an additional 1,101,041 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company's stock valued at $215,833,000 after buying an additional 779,243 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

Incyte Price Performance

Shares of NASDAQ:INCY traded down $0.40 during midday trading on Tuesday, reaching $69.40. 1,971,461 shares of the company's stock traded hands, compared to its average volume of 2,337,362. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a market cap of $13.37 billion, a P/E ratio of 495.71, a PEG ratio of 8.36 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The company has a fifty day simple moving average of $72.29 and a two-hundred day simple moving average of $66.48.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on INCY shares. Royal Bank of Canada boosted their price target on shares of Incyte from $72.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Thursday, November 14th. StockNews.com cut shares of Incyte from a "strong-buy" rating to a "buy" rating in a research report on Friday. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research note on Tuesday, November 19th. William Blair reaffirmed an "outperform" rating on shares of Incyte in a research note on Friday. Finally, Citigroup lifted their price objective on shares of Incyte from $92.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $76.18.

Insider Buying and Selling

In related news, insider Thomas Tray sold 650 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the sale, the insider now directly owns 23,962 shares of the company's stock, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. 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. 17.60% of the stock is currently owned by 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.