Gateway Investment Advisers LLC Has $535,000 Stock Position in Incyte Co. (NASDAQ:INCY)

Gateway Investment Advisers LLC increased its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 95.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,828 shares of the biopharmaceutical company's stock after buying an additional 4,311 shares during the quarter. Gateway Investment Advisers LLC's holdings in Incyte were worth $535,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 329 shares during the period. Retirement Systems of Alabama grew its position in Incyte by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company's stock worth $2,391,000 after purchasing an additional 139 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Incyte by 12.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,467 shares of the biopharmaceutical company's stock valued at $1,624,000 after purchasing an additional 2,532 shares during the period. Empowered Funds LLC raised its holdings in shares of Incyte by 6.7% during the fourth quarter. Empowered Funds LLC now owns 23,557 shares of the biopharmaceutical company's stock valued at $1,627,000 after buying an additional 1,476 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Incyte during the fourth quarter valued at approximately $1,612,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Trading Down 1.7%

Incyte stock traded down $1.22 during midday trading on Wednesday, reaching $68.85. The stock had a trading volume of 2,203,456 shares, compared to its average volume of 2,124,165. Incyte Co. has a twelve month low of $53.56 and a twelve month high of $83.95. 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 firm has a market cap of $13.33 billion, a price-to-earnings ratio of 255.01, a PEG ratio of 0.41 and a beta of 0.67. The firm's fifty day simple moving average is $61.74 and its two-hundred day simple moving average is $67.16.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, beating 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%. Incyte's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 17.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INCY. JPMorgan Chase & Co. lowered their price target on Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Citigroup reissued a "buy" rating on shares of Incyte in a report on Tuesday, June 3rd. Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. UBS Group reissued a "neutral" rating and issued a $61.00 price objective on shares of Incyte in a research note on Tuesday, June 3rd. Finally, Royal Bank of Canada upped their price objective on Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Incyte currently has a consensus rating of "Hold" and a consensus target price of $72.53.

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.