Burney Co. Has $225,000 Stake in Incyte Co. (NASDAQ:INCY)

Burney Co. grew its position in shares of Incyte Co. (NASDAQ:INCY) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,262 shares of the biopharmaceutical company’s stock after buying an additional 223 shares during the quarter. Burney Co.’s holdings in Incyte were worth $225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. CWA Asset Management Group LLC acquired a new stake in shares of Incyte during the 4th quarter valued at about $1,933,000. Orion Portfolio Solutions LLC acquired a new stake in Incyte in the 3rd quarter worth approximately $770,000. Greenwood Capital Associates LLC acquired a new stake in Incyte in the 3rd quarter worth approximately $433,000. Tri Ri Asset Management Corp acquired a new stake in Incyte in the 3rd quarter worth approximately $3,292,000. Finally, Cypress Capital Group acquired a new stake in Incyte in the 3rd quarter worth approximately $971,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

INCY opened at $71.93 on Friday. The stock has a market cap of $13.86 billion, a PE ratio of 513.82, a P/E/G ratio of 0.51 and a beta of 0.71. 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 Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The stock’s 50 day simple moving average is $72.36 and its 200-day simple moving average is $67.98.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $0.91 earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. Sell-side analysts forecast that Incyte Co. will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INCY shares. Citigroup boosted their target price on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and upped their price target for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Finally, JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus price target of $76.29.

Insider Buying and Selling at Incyte

In other Incyte 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 value 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 represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas Tray sold 650 shares of the company’s 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 sale, the insider now owns 23,962 shares in the company, valued at $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. Insiders have sold 11,023 shares of company stock worth $839,711 over the last three months. Company insiders own 17.60% of the company’s stock.

Incyte Company 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.