AM Squared Ltd Has $119,000 Stock Position in Incyte Co. (NASDAQ:INCY)

AM Squared Ltd lifted its stake in Incyte Co. (NASDAQ:INCY) by 125.0% in the third quarter, HoldingsChannel reports. The firm owned 1,800 shares of the biopharmaceutical company’s stock after purchasing an additional 1,000 shares during the period. Incyte accounts for 0.3% of AM Squared Ltd’s holdings, making the stock its 28th biggest position. AM Squared Ltd’s holdings in Incyte were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of INCY. Pacer Advisors Inc. boosted its position in shares of Incyte by 17,460.4% in the 2nd 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 period. Mizuho Securities USA LLC boosted its position in Incyte by 13,814.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after acquiring an additional 1,985,726 shares during the period. AQR Capital Management LLC boosted its position in Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after acquiring an additional 1,101,041 shares during the period. Acadian Asset Management LLC boosted its position in Incyte by 28.0% during the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after acquiring an additional 779,243 shares during the period. Finally, Swedbank AB acquired a new stake in Incyte during the 1st quarter worth about $37,440,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Shares of INCY stock opened at $75.87 on Friday. The stock’s fifty day simple moving average is $68.99 and its 200 day simple moving average is $63.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 541.97, a P/E/G ratio of 8.75 and a beta of 0.71. Incyte Co. has a one year low of $50.35 and a one year high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion during 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%. Incyte’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. On average, analysts expect that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock valued at $856,166 in the last 90 days. 17.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wolfe Research assumed coverage on Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price objective for the company. BMO Capital Markets restated an “underperform” rating and set a $52.00 price objective (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Citigroup raised their price objective on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and a consensus target price 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.