Tower Research Capital LLC TRC Acquires 10,080 Shares of Incyte Co. (NASDAQ:INCY)

Tower Research Capital LLC TRC grew its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 247.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,150 shares of the biopharmaceutical company's stock after acquiring an additional 10,080 shares during the period. Tower Research Capital LLC TRC's holdings in Incyte were worth $977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Retirement Systems of Alabama increased its holdings 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 acquiring an additional 139 shares in the last quarter. Trust Point Inc. grew its holdings in shares of Incyte by 5.0% in the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company's stock valued at $227,000 after purchasing an additional 156 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of Incyte by 0.8% in the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company's stock worth $1,498,000 after buying an additional 171 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Incyte by 26.4% in the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 173 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its position in Incyte by 3.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company's stock valued at $361,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 96.97% of the company's stock.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the company's stock in a transaction on Friday, March 14th. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company's stock, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,475 shares of company stock valued at $2,424,751 over the last quarter. Company insiders own 17.60% of the company's stock.

Incyte Stock Performance

Shares of NASDAQ:INCY traded down $0.34 during trading on Thursday, reaching $62.32. 708,955 shares of the company's stock traded hands, compared to its average volume of 2,356,907. 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 company has a 50 day moving average of $63.01 and a 200-day moving average of $68.90. Incyte Co. has a 12 month low of $51.75 and a 12 month high of $83.95. The stock has a market capitalization of $12.06 billion, a P/E ratio of 231.01, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY - Get Free Report) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. During the same quarter in the prior year, the firm earned $0.64 EPS. Incyte's quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on INCY. Citigroup cut their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. JMP Securities restated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. Royal Bank of Canada raised their price target on shares of Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, Stifel Nicolaus lifted their target price on Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has issued 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 $73.94.

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.