GAMMA Investing LLC Buys Shares of 1,983 Incyte Co. (NASDAQ:INCY)

GAMMA Investing LLC bought a new stake in Incyte Co. (NASDAQ:INCY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,983 shares of the biopharmaceutical company’s stock, valued at approximately $117,000.

A number of other large investors also recently bought and sold shares of the stock. Larson Financial Group LLC lifted its position in shares of Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Incyte during the fourth quarter worth about $31,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Incyte by 157.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 472 shares in the last quarter. Allworth Financial LP lifted its position in shares of Incyte by 40.0% during the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 229 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Incyte during the third quarter worth approximately $83,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

INCY has been the topic of a number of recent research reports. Royal Bank of Canada restated a “sector perform” rating and set a $65.00 target price on shares of Incyte in a research note on Monday, March 25th. Cantor Fitzgerald initiated coverage on shares of Incyte in a research note on Tuesday, April 23rd. They issued a “neutral” rating on the stock. Oppenheimer decreased their price target on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Citigroup decreased their price target on Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Finally, JMP Securities downgraded Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.50.

Incyte Trading Up 1.0 %

Shares of INCY stock opened at $51.68 on Monday. The stock has a market cap of $11.60 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.20 and a beta of 0.65. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $75.74. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $56.78 and a 200-day simple moving average of $57.71.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, analysts forecast that Incyte Co. will post 3.84 earnings per share for the current fiscal year.

About Incyte

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.