Claro Advisors LLC Acquires New Position in Incyte Co. (NASDAQ:INCY)

Claro Advisors LLC acquired a new stake in shares of Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,698 shares of the biopharmaceutical company’s stock, valued at approximately $255,000.

Several other large investors have also bought and sold shares of INCY. Czech National Bank increased its position in shares of Incyte by 6.5% during the fourth quarter. Czech National Bank now owns 34,670 shares of the biopharmaceutical company’s stock valued at $2,395,000 after acquiring an additional 2,106 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Incyte in the 4th quarter worth $1,933,000. Nordea Investment Management AB raised its stake in shares of Incyte by 9.2% in the fourth quarter. Nordea Investment Management AB now owns 13,738 shares of the biopharmaceutical company’s stock worth $945,000 after purchasing an additional 1,153 shares during the last quarter. Everence Capital Management Inc. bought a new position in shares of Incyte during the fourth quarter valued at $265,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Incyte by 18.3% during the fourth quarter. GAMMA Investing LLC now owns 5,764 shares of the biopharmaceutical company’s stock valued at $398,000 after purchasing an additional 890 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Up 0.7 %

Incyte stock opened at $72.46 on Thursday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 517.61, a P/E/G ratio of 7.90 and a beta of 0.71. The firm has a 50 day moving average of $72.95 and a 200 day moving average of $67.78. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. As a group, research analysts predict that Incyte Co. will post 0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. William Blair reissued an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Citigroup increased their price objective on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “underperform” rating and issued a $52.00 target price (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Incyte currently has an average rating of “Hold” and an average price target of $76.29.

Insiders Place Their Bets

In related news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the sale, the insider now directly owns 23,312 shares in the company, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,023 shares of company stock worth $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.