3,295 Shares in Incyte Co. (NASDAQ:INCY) Purchased by Allegiance Financial Group Advisory Services LLC

Allegiance Financial Group Advisory Services LLC purchased a new position in Incyte Co. (NASDAQ:INCY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,295 shares of the biopharmaceutical company’s stock, valued at approximately $228,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. raised its holdings in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Incyte in the 3rd quarter valued at about $30,000. R Squared Ltd bought a new stake in shares of Incyte in the 4th quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Incyte in the 3rd quarter valued at about $33,000. Finally, Groupama Asset Managment raised its holdings in shares of Incyte by 11.4% in the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 6,105 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Trading Down 0.1 %

Shares of INCY stock opened at $74.30 on Thursday. 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 firm has a market cap of $14.38 billion, a PE ratio of 275.20, a price-to-earnings-growth ratio of 0.41 and a beta of 0.70. The company has a 50-day moving average of $71.56 and a two-hundred day moving average of $69.73. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on INCY. Citigroup dropped their target price 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 reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Incyte presently has a consensus rating of “Hold” and an average target price of $75.25.

Insider Activity at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the firm’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 transaction of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock valued at $1,444,356 over the last 90 days. 17.60% of the stock is owned by corporate insiders.

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.