Kovitz Investment Group Partners LLC Acquires Shares of 4,414 Incyte Co. (NASDAQ:INCY)

Kovitz Investment Group Partners LLC bought a new stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,414 shares of the biopharmaceutical company's stock, valued at approximately $305,000.

A number of other institutional investors also recently modified their holdings of the stock. Barclays PLC boosted its position in shares of Incyte by 8.1% in the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock valued at $68,208,000 after acquiring an additional 77,542 shares during the period. GAMMA Investing LLC raised its holdings in Incyte by 18.3% during the 4th quarter. GAMMA Investing LLC now owns 5,764 shares of the biopharmaceutical company's stock worth $398,000 after buying an additional 890 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Incyte in the fourth quarter valued at approximately $265,000. Nordea Investment Management AB increased its holdings in Incyte by 9.2% during the fourth quarter. Nordea Investment Management AB now owns 13,738 shares of the biopharmaceutical company's stock worth $945,000 after buying an additional 1,153 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new position in Incyte during the fourth quarter worth $1,933,000. Institutional investors and hedge funds own 96.97% of the company's stock.

Insider Buying and Selling

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the 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 sale, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,475 shares of company stock worth $2,424,751. Insiders own 17.60% of the company's stock.

Analysts Set New Price Targets

INCY has been the subject of several research analyst reports. Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective for the company. in a research report on Tuesday, March 18th. Morgan Stanley dropped their price objective on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, March 24th. StockNews.com raised Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $73.53.

Incyte Stock Down 3.9 %

Shares of INCY traded down $2.45 during mid-day trading on Tuesday, reaching $59.66. 2,329,270 shares of the stock traded hands, compared to its average volume of 2,358,281. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12-month low of $52.81 and a 12-month high of $83.95. The stock has a fifty day simple moving average of $62.29 and a 200 day simple moving average of $68.86. The firm has a market cap of $11.55 billion, a price-to-earnings ratio of 220.97, a P/E/G ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $996.17 million. During the same period in the previous year, the business earned $0.64 earnings per share. The company's revenue was up 19.5% on a year-over-year basis. Sell-side analysts expect that Incyte Co. will post 4.86 EPS for the current fiscal year.

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.