Inspire Advisors LLC Has $755,000 Stock Position in Incyte Co. (NASDAQ:INCY)

Inspire Advisors LLC lifted its holdings in Incyte Co. (NASDAQ:INCY) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,930 shares of the biopharmaceutical company’s stock after purchasing an additional 341 shares during the period. Inspire Advisors LLC’s holdings in Incyte were worth $755,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of INCY. Quintet Private Bank Europe S.A. acquired a new stake in shares of Incyte in the fourth quarter worth about $26,000. Global X Japan Co. Ltd. raised its stake in shares of 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 acquiring an additional 230 shares in the last quarter. Brooklyn Investment Group bought a new stake in Incyte during the third quarter worth approximately $30,000. R Squared Ltd bought a new position in shares of Incyte in the fourth quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte in the third quarter worth $33,000. 96.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INCY. Wells Fargo & Company raised their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. UBS Group assumed coverage on shares of Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price for the company. 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. Stifel Nicolaus boosted their price target on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and a consensus price target of $75.25.

Incyte Trading Down 4.3 %

NASDAQ INCY opened at $68.07 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The firm has a market cap of $13.17 billion, a P/E ratio of 252.12, a P/E/G ratio of 0.41 and a beta of 0.76. The stock’s 50-day moving average is $71.85 and its 200-day moving average is $70.29. Incyte Co. has a one year low of $50.35 and a one year high of $83.95.

Incyte (NASDAQ:INCY) 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 anticipate that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Transactions at Incyte

In related news, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the transaction, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,320 shares of company stock worth $2,072,849 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

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.