RFG Advisory LLC purchased a new position in Incyte Co. (NASDAQ:INCY – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,050 shares of the biopharmaceutical company’s stock, valued at approximately $224,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Dark Forest Capital Management LP bought a new stake in shares of Incyte in the 3rd quarter worth approximately $33,000. Desjardins Global Asset Management Inc. bought a new stake in shares of Incyte in the 4th quarter worth approximately $43,000. National Bank of Canada FI bought a new stake in shares of Incyte in the 4th quarter worth approximately $44,000. Lindbrook Capital LLC boosted its position in shares of Incyte by 577.5% in the 4th quarter. Lindbrook Capital LLC now owns 603 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 514 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of Incyte by 81.6% in the 4th quarter. Allworth Financial LP now owns 641 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 288 shares in the last quarter. 91.33% of the stock is currently owned by hedge funds and other institutional investors.
INCY has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on shares of Incyte from $77.00 to $76.00 and set an “equal weight” rating for the company in a report on Wednesday, February 2nd. Guggenheim decreased their price objective on shares of Incyte from $118.00 to $104.00 in a report on Monday, January 3rd. JMP Securities restated a “buy” rating and issued a $108.00 price objective on shares of Incyte in a report on Friday, December 17th. StockNews.com initiated coverage on shares of Incyte in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Zacks Investment Research upgraded shares of Incyte from a “sell” rating to a “hold” rating and set a $85.00 price objective for the company in a report on Tuesday, April 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $87.82.
Incyte (NASDAQ:INCY – Get Rating) last posted its quarterly earnings data on Tuesday, February 8th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.65 by ($0.72). The company had revenue of $862.50 million during the quarter, compared to analysts’ expectations of $813.38 million. Incyte had a return on equity of 14.66% and a net margin of 31.76%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.73 earnings per share. On average, equities research analysts expect that Incyte Co. will post 2.52 earnings per share for the current fiscal year.
In related news, EVP Jonathan Elliott Dickinson sold 7,375 shares of the company’s stock in a transaction on Monday, January 31st. The shares were sold at an average price of $74.19, for a total value of $547,151.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bros. Advisors Lp Baker bought 292,972 shares of the company’s stock in a transaction that occurred on Thursday, February 17th. The stock was purchased at an average cost of $67.74 per share, with a total value of $19,845,923.28. The disclosure for this purchase can be found here. Insiders bought a total of 711,335 shares of company stock valued at $49,689,821 over the last 90 days. 15.80% of the stock is currently owned by company insiders.
About Incyte (Get Rating)
Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late stage development, and commercialized products such as JAKAFI (ruxolitinib), and ICLUSIG (ponatinib).
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