Peak Retirement Planning Inc. Makes New $921,000 Investment in Incyte Co. (NASDAQ:INCY)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INCY. Geode Capital Management LLC grew its stake in shares of Incyte by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock worth $278,346,000 after acquiring an additional 103,910 shares during the last quarter. AQR Capital Management LLC increased its stake in Incyte by 29.7% during the 4th quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock valued at $241,519,000 after purchasing an additional 801,090 shares in the last quarter. LSV Asset Management raised its holdings in shares of Incyte by 18.6% in the fourth quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock worth $239,500,000 after buying an additional 544,080 shares during the last quarter. Bellevue Group AG raised its holdings in shares of Incyte by 0.3% in the fourth quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company's stock worth $149,017,000 after buying an additional 6,927 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Incyte during the fourth quarter worth $121,890,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Incyte

In other news, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the transaction, the executive vice president now owns 25,848 shares of the company's stock, valued at approximately $1,809,101.52. The trade was a 2.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This trade represents a 37.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,475 shares of company stock valued at $2,424,751. 17.80% of the stock is currently owned by insiders.

Incyte Price Performance

Shares of NASDAQ:INCY traded up $1.10 during midday trading on Tuesday, hitting $65.35. The company's stock had a trading volume of 1,266,983 shares, compared to its average volume of 2,308,634. The company has a market cap of $12.65 billion, a P/E ratio of 242.05, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. Incyte Co. has a 12-month low of $53.56 and a 12-month high of $83.95. The business's 50 day simple moving average is $60.52 and its 200 day simple moving average is $67.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. Incyte's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. William Blair lowered Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price objective on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Truist Financial upped their target price on Incyte from $72.00 to $73.00 and gave the company a "hold" rating in a research report on Tuesday. Wells Fargo & Company raised their price target 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. Finally, Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective on the stock. in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Incyte has an average rating of "Hold" and an average target price of $73.60.

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.