Connor Clark & Lunn Investment Management Ltd. Purchases 121,978 Shares of Incyte Co. (NASDAQ:INCY)

Connor Clark & Lunn Investment Management Ltd. increased its position in Incyte Co. (NASDAQ:INCY) by 21.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 704,085 shares of the biopharmaceutical company’s stock after acquiring an additional 121,978 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Incyte were worth $48,631,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Avantax Advisory Services Inc. grew its holdings in Incyte by 5.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 7,880 shares of the biopharmaceutical company’s stock valued at $544,000 after purchasing an additional 380 shares during the period. Essential Planning LLC. bought a new stake in Incyte during the fourth quarter valued at about $703,000. EverSource Wealth Advisors LLC boosted its stake in shares of Incyte by 161.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 787 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Incyte by 8.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,922 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 395 shares during the period. Finally, Inspire Advisors LLC grew its position in shares of Incyte by 3.2% during the fourth quarter. Inspire Advisors LLC now owns 10,930 shares of the biopharmaceutical company’s stock worth $755,000 after purchasing an additional 341 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. UBS Group assumed coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. Wells Fargo & Company increased their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus increased their price target on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 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’s stock. Based on data from MarketBeat.com, Incyte currently has an average rating of “Hold” and a consensus price target of $75.25.

Insider Transactions at Incyte

In other news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tray sold 650 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,320 shares of company stock worth $2,072,849. 17.60% of the stock is currently owned by company insiders.

Incyte Trading Down 0.5 %

Shares of NASDAQ INCY opened at $67.73 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The business’s 50 day moving average price is $71.82 and its 200-day moving average price is $70.27. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 250.86, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, sell-side analysts expect that Incyte Co. will post 4.86 earnings per share for the current 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.