CWA Asset Management Group LLC Acquires New Holdings in Incyte Corporation $INCY

CWA Asset Management Group LLC bought a new position in Incyte Corporation (NASDAQ:INCY) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 70,204 shares of the biopharmaceutical company’s stock, valued at approximately $5,954,000.

A number of other hedge funds have also recently made changes to their positions in INCY. EP Wealth Advisors LLC raised its position in shares of Incyte by 15.2% in the first quarter. EP Wealth Advisors LLC now owns 6,531 shares of the biopharmaceutical company’s stock worth $395,000 after buying an additional 864 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Incyte by 16.0% in the 1st quarter. Advisors Asset Management Inc. now owns 13,518 shares of the biopharmaceutical company’s stock valued at $819,000 after acquiring an additional 1,863 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Incyte in the 1st quarter valued at about $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Incyte by 26.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,467 shares of the biopharmaceutical company’s stock valued at $3,964,000 after acquiring an additional 13,523 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Incyte by 369.3% during the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after purchasing an additional 9,913 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Stifel Nicolaus upped their target price on shares of Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their price target on Incyte from $97.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus price target of $99.79.

Incyte Stock Up 2.7%

INCY opened at $101.42 on Monday. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $109.28. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $100.69 and its 200-day moving average price is $87.03. The company has a market cap of $19.91 billion, a P/E ratio of 16.99, a P/E/G ratio of 0.61 and a beta of 0.82.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $1.07 EPS. Incyte’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities analysts expect that Incyte Corporation will post 4.86 EPS for the current year.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 2,774 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $100.00, for a total value of $277,400.00. Following the transaction, the insider owned 22,973 shares in the company, valued at approximately $2,297,300. The trade was a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven H. Stein sold 20,105 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the transaction, the executive vice president directly owned 63,129 shares of the company’s stock, valued at approximately $6,471,353.79. This trade represents a 24.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 88,318 shares of company stock valued at $8,708,893 over the last quarter. Company insiders own 17.80% of the company’s stock.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.