Algert Global LLC Makes New Investment in Incyte Co. (NASDAQ:INCY)

Algert Global LLC acquired a new stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 46,250 shares of the biopharmaceutical company's stock, valued at approximately $3,194,000.

Several other institutional investors and hedge funds also recently bought and sold shares of INCY. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte in the 4th quarter valued at approximately $26,000. Global X Japan Co. Ltd. increased its position 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 valued at $27,000 after purchasing an additional 230 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Incyte in the 4th quarter valued at approximately $30,000. Blue Trust Inc. increased its position in shares of Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Incyte in the 4th quarter valued at approximately $42,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Barry P. Flannelly sold 19,807 shares of the company's 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 completion of the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sheila A. Denton sold 599 shares of the company'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 completion of the transaction, the executive vice president now owns 25,848 shares of the company's stock, valued at $1,809,101.52. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,475 shares of company stock worth $2,424,751. 17.60% of the stock is currently owned by company insiders.

Incyte Price Performance

INCY traded up $1.72 during midday trading on Monday, reaching $60.70. 897,176 shares of the company's stock were exchanged, compared to its average volume of 2,356,380. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The stock has a market capitalization of $11.75 billion, a PE ratio of 225.51, a P/E/G ratio of 0.41 and a beta of 0.68. The business's 50-day moving average price is $61.31 and its 200 day moving average price is $68.69. Incyte Co. has a 1-year low of $53.56 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last announced its 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 company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Guggenheim downgraded shares of 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. Wells Fargo & Company raised their price objective on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Citigroup lowered their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Royal Bank of Canada raised their price objective on shares of Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. Finally, William Blair downgraded shares of Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $73.53.

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.