Catalyst Financial Partners LLC Makes New $442,000 Investment in Incyte Co. (NASDAQ:INCY)

Catalyst Financial Partners LLC purchased a new stake in Incyte Co. (NASDAQ:INCY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,299 shares of the biopharmaceutical company’s stock, valued at approximately $442,000.

Several other hedge funds also recently modified their holdings of INCY. Cape Investment Advisory Inc. bought a new position in shares of Incyte during the fourth quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new stake in Incyte in the second quarter valued at $26,000. Larson Financial Group LLC raised its position in Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 422 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Incyte in the 1st quarter valued at about $28,000. Finally, Riverview Trust Co bought a new stake in shares of Incyte in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

INCY traded up $0.96 during trading hours on Monday, hitting $65.10. The stock had a trading volume of 583,325 shares, compared to its average volume of 2,480,251. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $70.36. The company’s fifty day simple moving average is $62.87 and its 200 day simple moving average is $59.01. The stock has a market cap of $14.62 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The company has a quick ratio of 3.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.77 earnings per share. Incyte’s revenue was up 9.3% on a year-over-year basis. Equities analysts anticipate that Incyte Co. will post 3.35 earnings per share for the current year.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the transaction, the executive vice president now directly owns 36,701 shares in the company, valued at $2,569,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The disclosure for this sale can be found here. Insiders have sold a total of 45,282 shares of company stock valued at $2,876,911 in the last 90 days. Corporate insiders own 17.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INCY shares. BMO Capital Markets reaffirmed an “underperform” rating and issued a $48.00 price objective (down from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Citigroup upped their price objective on shares of Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada boosted their target price on shares of Incyte from $66.00 to $67.00 and gave the company a “sector perform” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Incyte presently has an average rating of “Hold” and a consensus price target of $73.29.

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.