Incyte Co. (NASDAQ:INCY) Shares Bought by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp increased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 178,922 shares of the biopharmaceutical company’s stock after acquiring an additional 4,869 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Incyte were worth $12,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. Brooklyn Investment Group acquired a new position in shares of Incyte during the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte during the third quarter worth approximately $33,000. Cromwell Holdings LLC raised its stake in Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 283 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Incyte in the 2nd quarter valued at $36,000. Finally, Capital Performance Advisors LLP acquired a new stake in Incyte during the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of several research reports. Morgan Stanley raised their price target on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price target on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price objective on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer upped their target price on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Incyte currently has an average rating of “Hold” and an average target price of $76.29.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction on Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the transaction, the insider now owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,023 shares of company stock valued at $839,711. 17.60% of the stock is currently owned by corporate insiders.

Incyte Stock Up 0.7 %

Incyte stock opened at $72.46 on Thursday. The company has a market capitalization of $13.96 billion, a PE ratio of 517.61, a price-to-earnings-growth ratio of 7.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The firm has a 50 day moving average price of $72.95 and a 200 day moving average price of $67.78.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. Research analysts expect that Incyte Co. will post 0.4 earnings per share for the current 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.