6,598 Shares in Incyte Co. (NASDAQ:INCY) Purchased by AXQ Capital LP

AXQ Capital LP acquired a new stake in Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,598 shares of the biopharmaceutical company’s stock, valued at approximately $456,000.

A number of other hedge funds have also added to or reduced their stakes in INCY. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte in the fourth quarter valued at approximately $26,000. Global X Japan Co. Ltd. lifted its holdings in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the period. Brooklyn Investment Group bought a new position in shares of Incyte during the 3rd quarter worth $30,000. R Squared Ltd purchased a new position in shares of Incyte during the fourth quarter valued at $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte during the third quarter valued at $33,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Trading Up 2.2 %

Shares of Incyte stock opened at $61.92 on Friday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm’s 50 day simple moving average is $70.61 and its two-hundred day simple moving average is $70.13. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of 229.34, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last released its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. Analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Analysts Set New Price Targets

INCY has been the topic of several recent research reports. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. UBS Group started coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective for the company. Guggenheim cut Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research report on Tuesday, March 18th. Finally, Truist Financial reduced their price target on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Incyte currently has an average rating of “Hold” and an average target price of $75.13.

Insider Buying and Selling

In related news, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock valued at $3,322,618 over the last quarter. 17.60% of the stock is currently owned by company insiders.

Incyte Profile

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.