Incyte Corporation (NASDAQ:INCY) Shares Bought by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. grew its holdings in Incyte Corporation (NASDAQ:INCY) by 25.0% during the first quarter, Holdings Channel.com reports. The firm owned 52,500 shares of the biopharmaceutical company’s stock after buying an additional 10,500 shares during the period. Incyte comprises about 0.8% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 24th biggest holding. Hussman Strategic Advisors Inc.’s holdings in Incyte were worth $3,179,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in INCY. Raiffeisen Bank International AG acquired a new position in Incyte during the fourth quarter valued at approximately $34,000. NBC Securities Inc. grew its holdings in Incyte by 88,200.0% during the first quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 882 shares during the last quarter. Huntington National Bank grew its holdings in Incyte by 40.7% during the fourth quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 270 shares during the last quarter. Intact Investment Management Inc. acquired a new position in Incyte during the first quarter valued at approximately $73,000. Finally, Colonial Trust Co SC grew its holdings in Incyte by 41.7% during the fourth quarter. Colonial Trust Co SC now owns 1,481 shares of the biopharmaceutical company’s stock valued at $102,000 after purchasing an additional 436 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Steven H. Stein sold 14,952 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $68.47, for a total transaction of $1,023,763.44. Following the sale, the executive vice president directly owned 97,466 shares of the company’s stock, valued at approximately $6,673,497.02. This represents a 13.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 1,192 shares of Incyte stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $69.86, for a total value of $83,273.12. Following the sale, the executive vice president directly owned 37,630 shares in the company, valued at $2,628,831.80. The trade was a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,392 shares of company stock worth $3,584,411 in the last quarter. Insiders own 17.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INCY shares. Wall Street Zen raised Incyte from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 30th. Truist Financial increased their price objective on Incyte from $72.00 to $73.00 and gave the stock a “hold” rating in a research note on Tuesday, May 27th. Morgan Stanley dropped their price objective on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. Royal Bank Of Canada set a $67.00 price objective on Incyte and gave the stock a “sector perform” rating in a research note on Monday, June 23rd. Finally, Wells Fargo & Company increased their price objective on Incyte from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.47.

Incyte Trading Down 0.6%

Shares of Incyte stock traded down $0.41 during trading on Friday, hitting $68.53. 180,277 shares of the company were exchanged, compared to its average volume of 1,937,415. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00. The firm’s fifty day moving average price is $66.94 and its 200 day moving average price is $66.66. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $83.95. The firm has a market capitalization of $13.27 billion, a P/E ratio of 214.48, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $996.17 million. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue was up 19.5% compared to the same quarter last year. As a group, sell-side analysts expect that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

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.