Van ECK Associates Corp Grows Stock Holdings in Incyte Co. (NASDAQ:INCY)

Van ECK Associates Corp raised its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,899 shares of the biopharmaceutical company's stock after buying an additional 52,018 shares during the period. Van ECK Associates Corp owned approximately 0.10% of Incyte worth $12,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Global X Japan Co. Ltd. lifted its holdings in Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. Brooklyn Investment Group acquired a new position in Incyte during the third quarter valued at approximately $30,000. R Squared Ltd purchased a new stake in Incyte during the 4th quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte in the third quarter valued at about $33,000. Finally, Cromwell Holdings LLC raised its stake in shares of Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company's stock valued at $37,000 after purchasing an additional 283 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares of the company's stock, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction 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 $2,311,000.04. The trade was a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock valued at $1,444,356 over the last three months. Corporate insiders own 17.60% of the company's stock.

Wall Street Analyst Weigh In

INCY has been the topic of several recent analyst reports. Royal Bank of Canada cut their price target on Incyte from $70.00 to $68.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 11th. William Blair reaffirmed an "outperform" rating on shares of Incyte in a research report on Friday, December 13th. Morgan Stanley raised their target price on Incyte from $64.00 to $69.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Citigroup reduced their price objective on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Finally, StockNews.com cut shares of Incyte from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Incyte has a consensus rating of "Hold" and a consensus price target of $75.59.

Incyte Stock Performance

Shares of NASDAQ INCY traded down $1.11 during trading hours on Wednesday, reaching $70.16. 1,522,151 shares of the stock were exchanged, compared to its average volume of 1,636,789. The stock's fifty day simple moving average is $71.20 and its 200 day simple moving average is $69.31. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 259.86, a P/E/G ratio of 0.40 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings results 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%. Sell-side analysts predict that Incyte Co. will post 4.86 EPS for the current year.

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.