NEOS Investment Management LLC Increases Position in Incyte Co. (NASDAQ:INCY)

NEOS Investment Management LLC increased its position in Incyte Co. (NASDAQ:INCY) by 35.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,453 shares of the biopharmaceutical company’s stock after acquiring an additional 9,457 shares during the period. NEOS Investment Management LLC’s holdings in Incyte were worth $2,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. purchased a new position in shares of Incyte in the fourth quarter worth about $26,000. Global X Japan Co. Ltd. increased its holdings in Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the period. Brooklyn Investment Group acquired a new stake in Incyte during the 3rd quarter valued at approximately $30,000. R Squared Ltd purchased a new stake in shares of Incyte in the 4th quarter valued at $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Guggenheim downgraded Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research note on Tuesday, March 18th. Wells Fargo & Company lifted their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Citigroup lowered their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley decreased their target price on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.88.

Incyte Trading Down 0.1 %

Shares of INCY opened at $60.60 on Friday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The stock has a market cap of $11.73 billion, a PE ratio of 224.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The firm’s fifty day moving average is $69.53 and its two-hundred day moving average is $70.04. 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 (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Research analysts forecast that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock valued at $3,322,618 in the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

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.