Focus Partners Wealth Boosts Position in Incyte Co. (NASDAQ:INCY)

Focus Partners Wealth boosted its holdings in Incyte Co. (NASDAQ:INCY) by 249.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,073 shares of the biopharmaceutical company’s stock after buying an additional 8,623 shares during the period. Focus Partners Wealth’s holdings in Incyte were worth $834,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Retirement Systems of Alabama raised its holdings in Incyte by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after buying an additional 139 shares during the period. Trust Point Inc. lifted its position in shares of Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after purchasing an additional 156 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Incyte by 0.8% during the fourth quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock worth $1,498,000 after purchasing an additional 171 shares in the last quarter. Mather Group LLC. lifted its position in shares of Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 173 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its position in shares of Incyte by 2.7% during the fourth quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock worth $518,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Activity

In other Incyte 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 transaction of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. This trade represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,475 shares of company stock worth $2,424,751 in the last 90 days. Company insiders own 17.80% of the company’s stock.

Incyte Price Performance

INCY stock opened at $63.31 on Monday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a one year low of $53.56 and a one year high of $83.95. The firm has a market capitalization of $12.25 billion, a PE ratio of 234.49, a P/E/G ratio of 0.41 and a beta of 0.68. The firm has a 50-day moving average of $60.49 and a two-hundred day moving average of $68.39.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Wall Street Analyst Weigh In

INCY has been the subject of several recent research reports. Citigroup lowered their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 30th. Wells Fargo & Company upped their price objective on shares of Incyte from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Incyte from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.53.

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.