Incyte Co. (NASDAQ:INCY) Shares Acquired by JB Capital LLC

JB Capital LLC raised its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,478 shares of the biopharmaceutical company’s stock after purchasing an additional 1,159 shares during the quarter. JB Capital LLC’s holdings in Incyte were worth $2,757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of INCY. Vanguard Group Inc. lifted its position in shares of Incyte by 0.9% during the first quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock worth $1,294,120,000 after purchasing an additional 196,440 shares during the last quarter. LSV Asset Management grew its position in shares of Incyte by 2.3% in the 1st quarter. LSV Asset Management now owns 2,754,777 shares of the biopharmaceutical company’s stock worth $156,940,000 after acquiring an additional 62,950 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Incyte by 7.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,514,634 shares of the biopharmaceutical company’s stock valued at $143,259,000 after acquiring an additional 177,852 shares during the last quarter. Norges Bank acquired a new position in Incyte in the fourth quarter worth $123,253,000. Finally, Los Angeles Capital Management LLC increased its stake in Incyte by 37.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,570,296 shares of the biopharmaceutical company’s stock valued at $98,599,000 after purchasing an additional 424,934 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the transaction, the insider now directly owns 21,634 shares in the company, valued at $1,274,458.94. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the sale, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the transaction, the insider now owns 21,634 shares in the company, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. Insiders have sold 45,282 shares of company stock worth $2,876,911 in the last three months. 17.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Truist Financial reaffirmed a “buy” rating and issued a $83.00 price target (down from $84.00) on shares of Incyte in a report on Wednesday, May 1st. Bank of America increased their price target on Incyte from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their price objective on Incyte from $66.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 15th. BMO Capital Markets reiterated an “underperform” rating and issued a $48.00 target price (down from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Finally, Citigroup upped their price target on shares of Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.29.

Incyte Price Performance

NASDAQ:INCY traded up $1.12 during mid-day trading on Friday, reaching $64.14. 1,566,668 shares of the stock were exchanged, compared to its average volume of 2,491,648. The company has a current ratio of 1.92, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $62.83 and a 200 day moving average price of $58.96. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $70.36. The firm has a market capitalization of $14.40 billion, a PE ratio of 19.10, a PEG ratio of 1.14 and a beta of 0.73.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of $0.78 by ($2.60). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share. Research analysts expect that Incyte Co. will post 3.35 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.