180 Wealth Advisors LLC Increases Stock Position in Incyte Co. (NASDAQ:INCY)

180 Wealth Advisors LLC lifted its holdings in Incyte Co. (NASDAQ:INCY) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,231 shares of the biopharmaceutical company’s stock after purchasing an additional 195 shares during the period. 180 Wealth Advisors LLC’s holdings in Incyte were worth $361,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Incyte in the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte during the third quarter valued at approximately $33,000. Cromwell Holdings LLC lifted its position in Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 283 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Incyte during the second quarter valued at approximately $36,000. Finally, Capital Performance Advisors LLP purchased a new stake in Incyte during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 0.7 %

NASDAQ:INCY opened at $72.46 on Thursday. The firm has a market capitalization of $13.96 billion, a P/E ratio of 517.61, a PEG ratio of 7.90 and a beta of 0.71. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company’s fifty day moving average price is $72.95 and its 200-day moving average price is $67.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

Incyte (NASDAQ:INCY) last released 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). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. As a group, equities research analysts anticipate that Incyte Co. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of analyst reports. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. increased their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Morgan Stanley increased their target price on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer upped their price target on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.29.

Insider Buying and Selling

In related news, insider Thomas Tray sold 650 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the 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 directly owns 58,042 shares in the company, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,023 shares of company stock valued at $839,711. Corporate insiders own 17.60% of the company’s stock.

About Incyte

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.