Hussman Strategic Advisors Inc. Boosts Holdings in Incyte Corporation (NASDAQ:INCY)

Hussman Strategic Advisors Inc. lifted its stake in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 25.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,500 shares of the biopharmaceutical company's stock after buying an additional 10,500 shares during the period. Incyte makes up approximately 0.8% of Hussman Strategic Advisors Inc.'s investment portfolio, making the stock its 24th biggest holding. Hussman Strategic Advisors Inc.'s holdings in Incyte were worth $3,179,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in INCY. Raiffeisen Bank International AG acquired a new stake in shares of Incyte in the fourth quarter valued at about $34,000. NBC Securities Inc. boosted its holdings in Incyte by 88,200.0% in the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 882 shares during the last quarter. Huntington National Bank boosted its holdings in Incyte by 40.7% in the 4th quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company's stock valued at $65,000 after purchasing an additional 270 shares during the last quarter. Intact Investment Management Inc. acquired a new position in Incyte in the 1st quarter valued at about $73,000. Finally, Colonial Trust Co SC boosted its holdings in Incyte by 41.7% in the 4th quarter. Colonial Trust Co SC now owns 1,481 shares of the biopharmaceutical company's stock valued at $102,000 after purchasing an additional 436 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of several recent analyst reports. UBS Group reiterated a "neutral" rating and issued a $61.00 target price on shares of Incyte in a report on Tuesday, June 3rd. Morgan Stanley decreased their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. Royal Bank Of Canada set a $67.00 target price on shares of Incyte and gave the company a "sector perform" rating in a report on Monday, June 23rd. Wells Fargo & Company boosted their target price on shares of Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has given 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 target price of $74.47.

Incyte Trading Down 0.6%

Shares of NASDAQ INCY traded down $0.41 during midday trading on Friday, reaching $68.53. 180,277 shares of the stock were exchanged, compared to its average volume of 1,937,415. The company has a market capitalization of $13.27 billion, a P/E ratio of 214.48, a P/E/G ratio of 0.57 and a beta of 0.68. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $83.95. The company has a current ratio of 2.04, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $66.94 and a 200-day moving average price of $66.66.

Incyte (NASDAQ:INCY - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $996.17 million. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The company's quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. Equities research analysts expect that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Vijay K. Iyengar sold 8,617 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total transaction of $587,248.55. Following the transaction, the executive vice president directly owned 37,701 shares of the company's stock, valued at approximately $2,569,323.15. The trade was a 18.60% 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 Steven H. Stein sold 14,952 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $68.47, for a total transaction of $1,023,763.44. Following the completion of the sale, the executive vice president directly owned 97,466 shares in the company, valued at $6,673,497.02. This represents a 13.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,392 shares of company stock valued at $3,584,411. 17.80% of the stock is currently owned by company insiders.

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.

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