Covestor Ltd Buys New Position in Incyte Co. (NASDAQ:INCY)

Covestor Ltd purchased a new stake in Incyte Co. (NASDAQ:INCYGet Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,125 shares of the biopharmaceutical company’s stock, valued at approximately $83,000.

A number of other large investors also recently modified their holdings of the business. Dark Forest Capital Management LP bought a new stake in shares of Incyte in the 3rd quarter worth $33,000. AlphaMark Advisors LLC purchased a new stake in Incyte in the 4th quarter valued at about $35,000. Desjardins Global Asset Management Inc. bought a new position in shares of Incyte during the 4th quarter worth approximately $43,000. Lindbrook Capital LLC lifted its position in shares of Incyte by 577.5% during the 4th quarter. Lindbrook Capital LLC now owns 603 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 514 shares in the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Incyte in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 92.78% of the company’s stock.

NASDAQ:INCY opened at $75.51 on Wednesday. The business’s fifty day moving average is $77.41 and its 200 day moving average is $72.55. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 0.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 3.71. Incyte Co. has a 52-week low of $61.91 and a 52-week high of $88.26.

Incyte (NASDAQ:INCYGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. Incyte had a return on equity of 12.77% and a net margin of 29.95%. The firm had revenue of $733.20 million for the quarter, compared to analysts’ expectations of $753.54 million. During the same period in the prior year, the business posted $0.50 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. Equities analysts predict that Incyte Co. will post 2.31 EPS for the current fiscal year.

In other Incyte news, Director Bros. Advisors Lp Baker acquired 99,800 shares of the business’s stock in a transaction dated Tuesday, February 22nd. The stock was bought at an average price of $68.07 per share, with a total value of $6,793,386.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Barry P. Flannelly sold 43,993 shares of the company’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $83.49, for a total transaction of $3,672,975.57. Following the completion of the transaction, the executive vice president now owns 65,163 shares in the company, valued at $5,440,458.87. The disclosure for this sale can be found here. Insiders have purchased a total of 711,335 shares of company stock worth $49,689,821 in the last ninety days. 15.80% of the stock is currently owned by insiders.

Several research analysts have weighed in on INCY shares. Stifel Nicolaus boosted their price objective on Incyte from $75.00 to $77.00 in a research report on Tuesday, May 3rd. Morgan Stanley increased their price target on shares of Incyte from $73.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 20th. Zacks Investment Research raised shares of Incyte from a “sell” rating to a “hold” rating and set a $85.00 price objective on the stock in a research report on Tuesday, April 5th. Royal Bank of Canada raised shares of Incyte from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $78.00 to $90.00 in a research report on Tuesday, January 18th. Finally, TheStreet cut shares of Incyte from a “b” rating to a “c” rating in a report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $86.92.

Incyte Profile (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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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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