Graham Capital Management L.P. Buys New Stake in Incyte Co. (NASDAQ:INCY)

Graham Capital Management L.P. acquired a new position in shares of Incyte Co. (NASDAQ:INCY) in the fourth quarter, Holdings Channel.com reports. The firm acquired 3,673 shares of the biopharmaceutical company’s stock, valued at approximately $254,000.

A number of other large investors have also modified their holdings of INCY. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte in the fourth quarter valued at about $26,000. Global X Japan Co. Ltd. boosted 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 during the period. R Squared Ltd purchased a new position in Incyte during the fourth quarter worth about $30,000. Blue Trust Inc. boosted its stake in shares of Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 329 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Incyte in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This represents a 37.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,475 shares of company stock valued at $2,424,751 in the last ninety days. 17.80% of the stock is currently owned by company insiders.

Incyte Stock Performance

NASDAQ:INCY opened at $63.31 on Monday. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte Co. has a fifty-two week low of $53.56 and a fifty-two week high of $83.95. The stock has a market cap of $12.25 billion, a PE ratio of 234.49, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The firm’s fifty day simple moving average is $60.49 and its 200-day simple moving average is $68.39.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on INCY. Stifel Nicolaus lifted their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 30th. Royal Bank of Canada lifted their target price on shares of Incyte from $64.00 to $67.00 and gave the company a “sector perform” rating in a report on Wednesday, April 30th. Citigroup cut their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, William Blair cut shares of 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 issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.