Incyte Co. (NASDAQ:INCY) Stake Lifted by Korea Investment CORP

Korea Investment CORP raised its stake in Incyte Co. (NASDAQ:INCY) by 17.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 68,826 shares of the biopharmaceutical company’s stock after buying an additional 10,100 shares during the quarter. Korea Investment CORP’s holdings in Incyte were worth $4,754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWA Asset Management Group LLC bought a new stake in Incyte in the 4th quarter valued at about $1,933,000. Orion Portfolio Solutions LLC bought a new stake in shares of Incyte during the third quarter valued at approximately $770,000. Tri Ri Asset Management Corp acquired a new position in shares of Incyte during the third quarter worth approximately $3,292,000. Pallas Capital Advisors LLC acquired a new position in shares of Incyte during the fourth quarter worth approximately $1,006,000. Finally, SG Americas Securities LLC grew its holdings in Incyte by 262.2% in the 4th quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company’s stock worth $6,866,000 after buying an additional 71,963 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Transactions at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock valued at $3,322,618 over the last three months. 17.60% of the stock is owned by corporate insiders.

Incyte Trading Down 0.1 %

NASDAQ INCY opened at $60.55 on Tuesday. The firm’s 50 day moving average price is $69.31 and its two-hundred day moving average price is $70.12. The stock has a market cap of $11.72 billion, a price-to-earnings ratio of 224.27, a PEG ratio of 0.41 and a beta of 0.76. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

Incyte (NASDAQ:INCY) last posted 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 net margin of 0.77% and a return on equity of 0.05%. Equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports 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 for the company in a research report on Tuesday, February 11th. Stifel Nicolaus increased their target price on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Finally, William Blair cut Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $74.88.

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.