Metis Global Partners LLC Boosts Position in Incyte Co. (NASDAQ:INCY)

Metis Global Partners LLC grew its holdings in shares of Incyte Co. (NASDAQ:INCY) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,495 shares of the biopharmaceutical company’s stock after buying an additional 345 shares during the period. Metis Global Partners LLC’s holdings in Incyte were worth $518,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Fisher Asset Management LLC increased its stake in shares of Incyte by 151.0% during the fourth quarter. Fisher Asset Management LLC now owns 28,923 shares of the biopharmaceutical company’s stock valued at $1,998,000 after buying an additional 17,401 shares during the period. Proficio Capital Partners LLC purchased a new stake in Incyte in the fourth quarter worth $3,549,000. Allegiance Financial Group Advisory Services LLC purchased a new stake in Incyte in the fourth quarter worth $228,000. Impact Investors Inc purchased a new stake in Incyte in the fourth quarter worth $581,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in Incyte in the fourth quarter worth $42,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Up 0.2 %

Shares of NASDAQ:INCY opened at $69.81 on Thursday. The company has a market cap of $13.51 billion, a P/E ratio of 258.57, a PEG ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The stock’s fifty day moving average price is $71.77 and its 200-day moving average price is $70.07.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 expect that Incyte Co. will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reduced 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. Stifel Nicolaus upped their price target on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Citigroup reduced their price target on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Finally, William Blair reissued an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $75.25.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Tray sold 650 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the transaction, the insider now directly owns 23,312 shares in the company, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,721 shares of company stock valued at $2,030,925. 17.60% of the stock is owned by company 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.