Focus Partners Wealth Has $834,000 Stake in Incyte Co. (NASDAQ:INCY)

Focus Partners Wealth increased its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 249.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,073 shares of the biopharmaceutical company's stock after buying an additional 8,623 shares during the quarter. Focus Partners Wealth's holdings in Incyte were worth $834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INCY. Barclays PLC grew its holdings in Incyte by 8.1% in the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock worth $68,208,000 after buying an additional 77,542 shares in the last quarter. Burney Co. grew its holdings in Incyte by 7.3% in the 4th quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company's stock worth $225,000 after buying an additional 223 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in Incyte by 14.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 4,517 shares of the biopharmaceutical company's stock worth $312,000 after buying an additional 587 shares in the last quarter. Merit Financial Group LLC bought a new position in Incyte in the 4th quarter worth approximately $624,000. Finally, Hanseatic Management Services Inc. bought a new position in Incyte in the 4th quarter worth approximately $77,000. 96.97% of the stock is owned by institutional investors.

Incyte Trading Down 0.4%

Shares of Incyte stock traded down $0.26 on Friday, reaching $64.25. 873,888 shares of the company were exchanged, compared to its average volume of 2,311,434. The stock has a fifty day moving average price of $60.44 and a 200-day moving average price of $68.09. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 237.97, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a fifty-two week low of $53.56 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.15. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. Incyte's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Insider Activity at Incyte

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the transaction, the executive vice president now directly owns 25,848 shares of the company's stock, valued at $1,809,101.52. This represents a 2.26% decrease in their position. The sale 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 company's stock in a transaction dated 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 in the company, 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 ninety days, insiders have sold 34,475 shares of company stock valued at $2,424,751. Company insiders own 17.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JMP Securities restated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Citigroup cut their target price on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. JPMorgan Chase & Co. cut their target price on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Morgan Stanley cut their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, March 24th. Finally, Stifel Nicolaus upped their target price on Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Incyte presently has a consensus rating of "Hold" and a consensus target price of $73.53.

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.