NorthCrest Asset Manangement LLC purchased a new stake in Incyte Co. (NASDAQ:INCY – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,825 shares of the biopharmaceutical company’s stock, valued at approximately $574,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new stake in shares of Incyte in the 3rd quarter valued at about $33,000. AlphaMark Advisors LLC acquired a new stake in shares of Incyte in the 4th quarter valued at about $35,000. Desjardins Global Asset Management Inc. acquired a new stake in shares of Incyte in the 4th quarter valued at about $43,000. Lindbrook Capital LLC raised its stake in shares of Incyte by 577.5% in the 4th quarter. Lindbrook Capital LLC now owns 603 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 514 shares during the period. Finally, National Bank of Canada FI acquired a new stake in shares of Incyte in the 4th quarter valued at about $44,000. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of INCY opened at $80.72 on Thursday. Incyte Co. has a 1-year low of $61.91 and a 1-year high of $88.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.65 and a quick ratio of 3.62. The firm has a market capitalization of $17.88 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 0.91 and a beta of 0.71. The company has a 50-day moving average of $76.47 and a 200 day moving average of $71.93.
In related news, EVP Barry P. Flannelly sold 43,993 shares of the business’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $83.49, for a total value of $3,672,975.57. Following the completion of the transaction, the executive vice president now owns 65,163 shares of the company’s stock, valued at approximately $5,440,458.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker purchased 292,972 shares of the stock in a transaction on Thursday, February 17th. The stock was acquired at an average price of $67.74 per share, with a total value of $19,845,923.28. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 711,335 shares of company stock worth $49,689,821. 15.80% of the stock is owned by corporate insiders.
Several analysts have issued reports on the company. Stifel Nicolaus lifted their price target on Incyte from $75.00 to $77.00 in a research note on Tuesday. Morgan Stanley lifted their target price on Incyte from $73.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 20th. Royal Bank of Canada upgraded Incyte from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $78.00 to $90.00 in a research note on Tuesday, January 18th. SVB Leerink cut Incyte from a “market perform” rating to an “underperform” rating and cut their price target for the company from $60.00 to $56.00 in a research note on Wednesday, February 9th. Finally, Zacks Investment Research upgraded Incyte from a “sell” rating to a “hold” rating and set a $85.00 price target for the company in a research note on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $86.92.
About Incyte (Get Rating)
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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