Kennedy Capital Management LLC Boosts Holdings in Incyte Co. (NASDAQ:INCY)

Kennedy Capital Management LLC lifted its position in shares of Incyte Co. (NASDAQ:INCY) by 20.2% during the fourth quarter, HoldingsChannel reports. The firm owned 16,058 shares of the biopharmaceutical company’s stock after purchasing an additional 2,696 shares during the quarter. Kennedy Capital Management LLC’s holdings in Incyte were worth $1,109,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in INCY. Treasurer of the State of North Carolina boosted its position in Incyte by 5.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 77,229 shares of the biopharmaceutical company’s stock valued at $5,334,000 after buying an additional 4,320 shares during the last quarter. LSV Asset Management boosted its holdings in Incyte by 18.6% in the fourth quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company’s stock valued at $239,500,000 after purchasing an additional 544,080 shares during the last quarter. Bessemer Group Inc. grew its stake in Incyte by 1.5% during the 4th quarter. Bessemer Group Inc. now owns 49,091 shares of the biopharmaceutical company’s stock valued at $3,389,000 after purchasing an additional 733 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in Incyte during the 4th quarter worth approximately $234,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Incyte in the 4th quarter valued at approximately $3,623,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on INCY shares. Royal Bank of Canada dropped their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. Citigroup dropped their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Wells Fargo & Company upped their price objective on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Finally, Truist Financial decreased their target price 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 research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.88.

Incyte Trading Up 4.1 %

Incyte stock opened at $59.22 on Tuesday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of 219.34, a PEG ratio of 0.41 and a beta of 0.89. The firm has a 50-day moving average price of $65.87 and a two-hundred day moving average price of $69.58.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data 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 return on equity of 0.05% and a net margin of 0.77%. Sell-side analysts expect that Incyte Co. will post 4.86 earnings per share for the current year.

Incyte Company 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.