Y Intercept Hong Kong Ltd Invests $2.42 Million in Incyte Co. (NASDAQ:INCY)

Y Intercept Hong Kong Ltd bought a new position in shares of Incyte Co. (NASDAQ:INCY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 35,060 shares of the biopharmaceutical company’s stock, valued at approximately $2,422,000.

Several other hedge funds have also modified their holdings of INCY. Global X Japan Co. Ltd. boosted its stake in shares of Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Incyte during the 3rd quarter worth about $30,000. R Squared Ltd purchased a new stake in shares of Incyte during the 4th quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte during the 3rd quarter worth about $33,000. Finally, Groupama Asset Managment boosted its stake in shares of Incyte by 11.4% during the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 6,105 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Up 2.6 %

Shares of NASDAQ INCY opened at $74.01 on Tuesday. The company has a 50 day simple moving average of $71.32 and a 200-day simple moving average of $69.60. The company has a market capitalization of $14.32 billion, a P/E ratio of 274.12, a P/E/G ratio of 0.41 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Oppenheimer increased their target price on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. William Blair restated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Stifel Nicolaus upped their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Finally, UBS Group assumed coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.25.

Insider Transactions at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock worth $1,444,356 in the last 90 days. Insiders own 17.60% of the company’s stock.

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.