Advisory Alpha LLC Purchases 650 Shares of Incyte Co. (NASDAQ:INCY)

Advisory Alpha LLC lifted its position in Incyte Co. (NASDAQ:INCY) by 9.0% in the 4th quarter, Holdings Channel reports. The fund owned 7,890 shares of the biopharmaceutical company’s stock after acquiring an additional 650 shares during the quarter. Advisory Alpha LLC’s holdings in Incyte were worth $545,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. raised its holdings in Incyte by 99.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 49,978 shares of the biopharmaceutical company’s stock worth $3,452,000 after purchasing an additional 24,899 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of Incyte by 14.3% in the 4th quarter. Ballentine Partners LLC now owns 5,335 shares of the biopharmaceutical company’s stock worth $368,000 after acquiring an additional 666 shares in the last quarter. Hanseatic Management Services Inc. purchased a new position in Incyte during the 4th quarter valued at about $77,000. Merit Financial Group LLC purchased a new position in Incyte during the 4th quarter valued at about $624,000. Finally, Gateway Investment Advisers LLC boosted its stake in Incyte by 14.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 4,517 shares of the biopharmaceutical company’s stock worth $312,000 after acquiring an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INCY. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. The Goldman Sachs Group increased their target price on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. UBS Group assumed coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. Finally, Citigroup lifted their target price on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and a consensus price target of $76.29.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the transaction, the executive vice president now directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,375 shares of company stock valued at $1,737,578. Insiders own 17.60% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $72.41 on Thursday. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The business has a fifty day moving average of $72.02 and a 200 day moving average of $68.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The firm has a market capitalization of $13.95 billion, a P/E ratio of 517.25, a PEG ratio of 0.52 and a beta of 0.71.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. As a group, sell-side analysts anticipate that Incyte Co. will post 0.4 EPS for the current 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.