Bridgefront Capital LLC Purchases Shares of 3,970 Incyte Co. (NASDAQ:INCY)

Bridgefront Capital LLC purchased a new stake in Incyte Co. (NASDAQ:INCYGet Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,970 shares of the biopharmaceutical company’s stock, valued at approximately $265,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INCY. Cetera Advisor Networks LLC increased its position in Incyte by 7.4% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,265 shares of the biopharmaceutical company’s stock valued at $418,000 after acquiring an additional 362 shares during the period. Private Advisor Group LLC acquired a new position in Incyte in the 1st quarter valued at approximately $323,000. D.A. Davidson & CO. increased its position in shares of Incyte by 4.8% during the first quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 150 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Incyte by 6.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,172 shares of the biopharmaceutical company’s stock worth $1,999,000 after buying an additional 1,605 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Incyte by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 596,022 shares of the biopharmaceutical company’s stock worth $47,338,000 after buying an additional 43,168 shares during the period. 95.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Incyte

In related news, EVP Vijay K. Iyengar sold 17,324 shares of the business’s stock in a transaction that occurred on Friday, December 23rd. The shares were sold at an average price of $80.80, for a total transaction of $1,399,779.20. Following the completion of the transaction, the executive vice president now owns 37,855 shares of the company’s stock, valued at $3,058,684. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Vijay K. Iyengar sold 17,324 shares of the business’s stock in a transaction that occurred on Friday, December 23rd. The shares were sold at an average price of $80.80, for a total transaction of $1,399,779.20. Following the completion of the transaction, the executive vice president now owns 37,855 shares of the company’s stock, valued at $3,058,684. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Steven H. Stein sold 28,399 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $79.78, for a total transaction of $2,265,672.22. Following the transaction, the executive vice president now directly owns 109,021 shares of the company’s stock, valued at approximately $8,697,695.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,970 shares of company stock valued at $9,447,367. Corporate insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

INCY has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Incyte from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. SVB Leerink reiterated an “underperform” rating and set a $63.00 price objective on shares of Incyte in a research report on Wednesday, February 8th. JMP Securities reiterated a “buy” rating and set a $113.00 price objective on shares of Incyte in a research report on Tuesday, March 7th. Mizuho reissued a “neutral” rating and set a $95.00 target price on shares of Incyte in a research note on Wednesday, February 8th. Finally, Cowen increased their target price on shares of Incyte from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Incyte has an average rating of “Hold” and an average target price of $87.54.

Incyte Price Performance

INCY opened at $73.97 on Friday. The company has a market capitalization of $16.49 billion, a price-to-earnings ratio of 48.66, a PEG ratio of 0.62 and a beta of 0.74. The company has a quick ratio of 3.50, a current ratio of 3.54 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $79.60 and a 200-day moving average price of $76.40. Incyte Co. has a twelve month low of $65.07 and a twelve month high of $86.29.

Incyte (NASDAQ:INCYGet Rating) last posted its earnings results on Tuesday, February 7th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm had revenue of $926.70 million during the quarter, compared to the consensus estimate of $880.25 million. Incyte had a net margin of 10.03% and a return on equity of 11.45%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) earnings per share. Equities analysts expect that Incyte Co. will post 3.29 EPS for the current year.

Incyte Profile

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Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of proprietary therapeutics. The company was founded in April 1991 and is headquartered in Wilmington, DE.

Further Reading

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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