Duality Advisers LP Takes Position in Incyte Co. (NASDAQ:INCY)

Duality Advisers LP acquired a new position in Incyte Co. (NASDAQ:INCY) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 76,812 shares of the biopharmaceutical company’s stock, valued at approximately $4,376,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. acquired a new stake in Incyte in the fourth quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 422 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Incyte during the first quarter worth about $28,000. Riverview Trust Co bought a new stake in Incyte in the first quarter worth about $29,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Incyte in the fourth quarter valued at $31,000. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INCY shares. Truist Financial reaffirmed a “buy” rating and set a $83.00 target price (down previously from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Incyte in a research note on Thursday, May 23rd. They issued a “hold” rating and a $55.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $65.00 target price on shares of Incyte in a research note on Monday, March 25th. Finally, TD Cowen cut their price target on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.44.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 8,148 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the sale, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at $3,032,040. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the transaction, the insider now owns 21,634 shares in the company, valued at $1,274,458.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 8,148 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the sale, the executive vice president now owns 50,534 shares in the company, valued at $3,032,040. The disclosure for this sale can be found here. Insiders have sold a total of 28,405 shares of company stock worth $1,703,109 over the last 90 days. Insiders own 17.50% of the company’s stock.

Incyte Price Performance

NASDAQ:INCY traded up $1.51 during mid-day trading on Friday, reaching $63.80. 980,492 shares of the company were exchanged, compared to its average volume of 2,591,303. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $67.36. The stock has a market cap of $14.33 billion, a PE ratio of 19.08, a PEG ratio of 1.31 and a beta of 0.73. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $58.72 and a 200 day moving average of $58.59.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The company had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. On average, research analysts anticipate that Incyte Co. will post 3.57 EPS for the current fiscal 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.