Gotham Asset Management LLC Buys 11,921 Shares of Incyte Co. (NASDAQ:INCY)

Gotham Asset Management LLC lifted its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,313 shares of the biopharmaceutical company's stock after purchasing an additional 11,921 shares during the period. Gotham Asset Management LLC's holdings in Incyte were worth $5,340,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Quintet Private Bank Europe S.A. bought a new stake in Incyte in the fourth quarter valued at $26,000. Global X Japan Co. Ltd. increased its position in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd bought a new stake in shares of Incyte during the fourth quarter worth about $30,000. Blue Trust Inc. increased its position in shares of Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 329 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Incyte during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Stock Up 0.9%

Incyte stock traded up $0.55 during mid-day trading on Friday, hitting $63.31. The company had a trading volume of 1,330,051 shares, compared to its average volume of 2,321,935. Incyte Co. has a 12 month low of $53.56 and a 12 month high of $83.95. The company has a market capitalization of $12.25 billion, a PE ratio of 234.49, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The stock's 50 day moving average price is $60.49 and its two-hundred day moving average price is $68.47. 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 (NASDAQ:INCY - Get Free Report) last announced 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 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%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Incyte

In other news, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction on 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 in the company, valued at $1,809,101.52. This trade represents a 2.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction on 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 owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,475 shares of company stock valued at $2,424,751 over the last 90 days. Corporate insiders own 17.80% of the company's stock.

Wall Street Analyst Weigh In

INCY has been the subject of several analyst reports. StockNews.com upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price for the company. in a research report on Tuesday, March 18th. 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. William Blair downgraded shares of Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. Finally, 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. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $73.53.

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.