Heron Bay Capital Management Raises Stake in Incyte Co. (NASDAQ:INCY)

Heron Bay Capital Management boosted its position in Incyte Co. (NASDAQ:INCY) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,302 shares of the biopharmaceutical company’s stock after buying an additional 296 shares during the quarter. Heron Bay Capital Management’s holdings in Incyte were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new stake in Incyte in the fourth quarter worth approximately $26,000. Global X Japan Co. Ltd. boosted its stake in Incyte by 144.7% in the fourth 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 in the last quarter. Brooklyn Investment Group purchased a new stake in Incyte in the third quarter worth approximately $30,000. R Squared Ltd purchased a new stake in Incyte in the fourth quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was 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 directly owns 33,567 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by corporate insiders.

Incyte Price Performance

INCY opened at $61.92 on Friday. The stock has a fifty day simple moving average of $70.61 and a two-hundred day simple moving average of $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 company has a market cap of $11.98 billion, a price-to-earnings ratio of 229.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on INCY shares. Citigroup dropped their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus increased their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Tuesday, March 18th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Incyte currently has an average rating of “Hold” and a consensus price target of $75.13.

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.