Hussman Strategic Advisors Inc. Makes New $2.90 Million Investment in Incyte Co. (NASDAQ:INCY)

Hussman Strategic Advisors Inc. bought a new position in Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 42,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,901,000. Incyte comprises approximately 0.9% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 23rd largest holding.

Several other large investors have also bought and sold shares of the company. Haverford Trust Co raised its holdings in Incyte by 1.8% in the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after buying an additional 135 shares during the last quarter. Retirement Systems of Alabama raised its holdings in Incyte by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after buying an additional 139 shares during the last quarter. Trust Point Inc. grew its stake in shares of Incyte by 5.0% in the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after acquiring an additional 156 shares during the period. Mather Group LLC. grew its stake in shares of Incyte by 26.4% in the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 173 shares during the period. Finally, Tectonic Advisors LLC grew its stake in shares of Incyte by 1.6% in the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after acquiring an additional 190 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Price Performance

Incyte stock opened at $70.16 on Thursday. The company has a market cap of $13.58 billion, a price-to-earnings ratio of 259.86, a PEG ratio of 0.40 and a beta of 0.70. The firm’s fifty day moving average is $71.20 and its 200 day moving average is $69.31. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95.

Incyte (NASDAQ:INCY) last released 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 net margin of 0.77% and a return on equity of 0.05%. Sell-side analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their target price on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price target (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Citigroup dropped their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.59.

Insider Activity at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock valued at $1,444,356 over the last 90 days. 17.60% of the stock is owned by corporate insiders.

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.