Brooklyn Investment Group Takes Position in Incyte Co. (NASDAQ:INCY)

Brooklyn Investment Group purchased a new position in shares of Incyte Co. (NASDAQ:INCY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 454 shares of the biopharmaceutical company’s stock, valued at approximately $30,000.

Several other hedge funds have also recently added to or reduced their stakes in INCY. Haverford Trust Co raised its holdings in Incyte by 1.8% in the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after acquiring an additional 135 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 155 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in Incyte by 37.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 164 shares during the last quarter. Moody National Bank Trust Division grew its holdings in Incyte by 1.3% in the 2nd quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after buying an additional 179 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in shares of Incyte by 4.0% in the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after acquiring an additional 182 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In related news, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,702 shares of company stock valued at $856,166 in the last quarter. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Morgan Stanley increased their price target on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Oppenheimer raised their price target on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.16.

Incyte Price Performance

Shares of INCY opened at $74.59 on Friday. The company has a market cap of $14.37 billion, a P/E ratio of 532.82, a PEG ratio of 8.70 and a beta of 0.71. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average price is $70.76 and its 200 day moving average price is $65.17.

Incyte (NASDAQ:INCY) last posted 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 company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.91 EPS. On average, research analysts forecast that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

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.