Peak Retirement Planning Inc. Takes $921,000 Position in Incyte Co. (NASDAQ:INCY)

Peak Retirement Planning Inc. acquired a new stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,638 shares of the biopharmaceutical company's stock, valued at approximately $921,000.

A number of other hedge funds have also recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in Incyte in the 4th quarter worth about $550,000. CSS LLC IL bought a new stake in Incyte in the 4th quarter worth about $687,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Incyte by 11.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,536,238 shares of the biopharmaceutical company's stock worth $106,108,000 after purchasing an additional 156,773 shares in the last quarter. Woodline Partners LP grew its position in Incyte by 0.7% in the 4th quarter. Woodline Partners LP now owns 800,088 shares of the biopharmaceutical company's stock worth $55,262,000 after purchasing an additional 5,315 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in Incyte in the 4th quarter worth about $206,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of INCY stock traded down $0.42 during trading on Wednesday, reaching $64.93. 1,339,522 shares of the company's stock traded hands, compared to its average volume of 2,304,773. The company has a market capitalization of $12.57 billion, a P/E ratio of 240.49, a PEG 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. The firm's 50-day moving average is $60.61 and its 200 day moving average is $67.75. 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 quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion for 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%. Incyte's revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. Equities research analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on INCY. Morgan Stanley reduced 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. Truist Financial upped their price objective on shares of Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday. Royal Bank of Canada upped 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. Stifel Nicolaus increased their target price on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $73.60.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by corporate 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.