Susquehanna Fundamental Investments LLC Makes New Investment in Incyte Co. (NASDAQ:INCY)

Susquehanna Fundamental Investments LLC purchased a new stake in Incyte Co. (NASDAQ:INCY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 210,237 shares of the biopharmaceutical company's stock, valued at approximately $14,521,000. Susquehanna Fundamental Investments LLC owned about 0.11% of Incyte at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. CWA Asset Management Group LLC bought a new stake in Incyte in the fourth quarter valued at approximately $1,933,000. Tri Ri Asset Management Corp bought a new stake in Incyte in the 3rd quarter valued at $3,292,000. Wells Fargo & Company MN lifted its holdings in Incyte by 61.3% during the 4th quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company's stock valued at $12,031,000 after purchasing an additional 66,220 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Incyte during the fourth quarter worth $1,006,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Incyte by 13.5% in the fourth quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock valued at $22,354,000 after purchasing an additional 38,550 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on INCY shares. Wells Fargo & Company lifted their target price on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday. Morgan Stanley lowered their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, March 24th. Stifel Nicolaus boosted their price target on Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research note on Monday, February 10th. StockNews.com raised Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Finally, 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 report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $73.53.

Incyte Price Performance

NASDAQ:INCY traded up $0.32 on Friday, hitting $62.35. The company had a trading volume of 612,809 shares, compared to its average volume of 2,351,855. 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 Co. has a 52 week low of $52.28 and a 52 week high of $83.95. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 231.12, a PEG ratio of 0.41 and a beta of 0.89. The firm has a 50 day moving average of $62.77 and a two-hundred day moving average of $68.88.

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. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same period last year, the firm posted $0.64 earnings per share. The business's revenue for the quarter was up 19.5% on a year-over-year basis. On average, research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Transactions at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the sale, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,475 shares of company stock worth $2,424,751. Company insiders own 17.60% of the company's stock.

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.