Ensign Peak Advisors Inc Buys 67,412 Shares of Incyte Co. (NASDAQ:INCY)

Ensign Peak Advisors Inc boosted its stake in shares of Incyte Co. (NASDAQ:INCY) by 21.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 378,060 shares of the biopharmaceutical company’s stock after acquiring an additional 67,412 shares during the period. Ensign Peak Advisors Inc owned 0.20% of Incyte worth $26,113,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Quintet Private Bank Europe S.A. bought a new stake in shares of Incyte in the fourth quarter worth about $26,000. Global X Japan Co. Ltd. increased its stake in 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 acquiring an additional 230 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Incyte during the 4th quarter worth approximately $30,000. Blue Trust Inc. boosted its position in shares of Incyte by 124.6% during the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Incyte in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on INCY. Morgan Stanley lowered their price objective on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. lowered their price target on shares of Incyte from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Citigroup reduced their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price objective on Incyte from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus increased their price target on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.53.

Incyte Stock Down 1.3 %

Shares of NASDAQ INCY opened at $58.98 on Friday. The stock has a 50 day moving average price of $61.31 and a 200 day moving average price of $68.67. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of 218.45, a PEG ratio of 0.41 and a beta of 0.68. Incyte Co. has a 52-week low of $53.56 and a 52-week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results 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. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. Sell-side analysts expect that Incyte Co. will post 4.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction 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 transaction, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of 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. Insiders have sold a total of 34,475 shares of company stock worth $2,424,751 in the last three months. Corporate insiders own 17.60% of the company’s stock.

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.