Van ECK Associates Corp Has $12.91 Million Stake in Incyte Co. (NASDAQ:INCY)

Van ECK Associates Corp grew its holdings in shares of Incyte Co. (NASDAQ:INCY) by 38.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 186,899 shares of the biopharmaceutical company’s stock after acquiring an additional 52,018 shares during the quarter. Van ECK Associates Corp’s holdings in Incyte were worth $12,909,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Savant Capital LLC increased its stake in Incyte by 304.8% during the 4th quarter. Savant Capital LLC now owns 52,792 shares of the biopharmaceutical company’s stock worth $3,646,000 after acquiring an additional 39,749 shares during the period. Entropy Technologies LP bought a new position in shares of Incyte in the fourth quarter worth $1,612,000. Empowered Funds LLC raised its stake in Incyte by 6.7% in the fourth quarter. Empowered Funds LLC now owns 23,557 shares of the biopharmaceutical company’s stock valued at $1,627,000 after purchasing an additional 1,476 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Incyte during the fourth quarter worth about $836,000. Finally, Global X Japan Co. Ltd. grew its stake in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Insider Activity

In other Incyte news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction on 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 sale, the insider now directly owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,695 shares of company stock valued at $1,444,356 in the last ninety days. 17.60% of the stock is owned by company insiders.

Incyte Price Performance

Shares of INCY opened at $70.42 on Friday. The business has a 50-day moving average of $71.26 and a 200-day moving average of $69.18. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of 503.04, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. As a group, equities research analysts anticipate that Incyte Co. will post 0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INCY. Stifel Nicolaus upped their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. BMO Capital Markets restated an “underperform” rating and set a $52.00 target price (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their target price on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $75.59.

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.