Tri Ri Asset Management Corp Makes New Investment in Incyte Co. (NASDAQ:INCY)

Tri Ri Asset Management Corp bought a new position in Incyte Co. (NASDAQ:INCY - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 49,161 shares of the biopharmaceutical company's stock, valued at approximately $3,234,000. Incyte accounts for about 3.6% of Tri Ri Asset Management Corp's holdings, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Pacer Advisors Inc. boosted its position in 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 purchasing an additional 2,676,851 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Incyte during the third quarter valued at $156,611,000. Mizuho Securities USA LLC boosted its position in 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 purchasing an additional 1,985,726 shares during the last quarter. AQR Capital Management LLC boosted its position in 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 purchasing an additional 1,101,041 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in 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 purchasing an additional 779,243 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares of the company's stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $455,521.34. Following the completion of the transaction, the executive vice president now directly owns 30,658 shares in the company, 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. 17.60% of the stock is owned by company insiders.

Incyte Price Performance

NASDAQ INCY traded down $1.49 during trading on Thursday, reaching $71.00. 919,411 shares of the company traded hands, compared to its average volume of 2,337,164. 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 stock's 50 day moving average price is $72.04 and its two-hundred day moving average price is $66.07. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 513.00, a P/E/G ratio of 8.75 and a beta of 0.69. 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 released 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). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, analysts anticipate that Incyte Co. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

INCY has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on Incyte from $72.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, November 14th. Citigroup boosted their price target on Incyte from $92.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. William Blair reaffirmed an "outperform" rating on shares of Incyte in a research report on Monday, September 9th. Wolfe Research began coverage on Incyte in a research report on Tuesday, October 1st. They issued an "outperform" rating and a $84.00 price target for the company. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $77.16.

About Incyte

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.