Legacy Trust Acquires 1,511 Shares of Incyte Co. (NASDAQ:INCY)

Legacy Trust grew its holdings in shares of Incyte Co. (NASDAQ:INCY) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 49,451 shares of the biopharmaceutical company’s stock after acquiring an additional 1,511 shares during the period. Legacy Trust’s holdings in Incyte were worth $3,416,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INCY. Point72 Asset Management L.P. bought a new position in Incyte during the 3rd quarter worth $156,611,000. Mizuho Securities USA LLC increased its stake in shares of Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after buying an additional 1,985,726 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after acquiring an additional 364,169 shares during the last quarter. Bridgewater Associates LP lifted its stake in shares of Incyte by 142.8% in the third quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock worth $20,401,000 after acquiring an additional 181,504 shares during the period. Finally, Point72 Europe London LLP bought a new stake in Incyte in the third quarter valued at approximately $5,975,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of recent analyst reports. UBS Group started coverage on shares of Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Citigroup upped their price target on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “underperform” rating and issued a $52.00 price objective (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, Oppenheimer lifted their target price on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.71.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the sale, the insider now owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,375 shares of company stock valued at $1,737,578. Corporate insiders own 17.60% of the company’s stock.

Incyte Trading Up 0.8 %

Shares of Incyte stock opened at $73.72 on Thursday. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $71.66 and a 200 day simple moving average of $68.68. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a market capitalization of $14.20 billion, a P/E ratio of 526.61, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The business’s revenue was up 23.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Incyte Co. will post 0.39 earnings per share for the current fiscal year.

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.