FourThought Financial Partners LLC Invests $253,000 in Incyte Co. (NASDAQ:INCY)

FourThought Financial Partners LLC bought a new stake in Incyte Co. (NASDAQ:INCY) during the fourth quarter, Holdings Channel reports. The institutional investor bought 3,670 shares of the biopharmaceutical company’s stock, valued at approximately $253,000.

Several other hedge funds also recently modified their holdings of the stock. CWA Asset Management Group LLC bought a new stake in Incyte in the 4th quarter worth about $1,933,000. Orion Portfolio Solutions LLC bought a new position in shares of Incyte in the third quarter valued at approximately $770,000. Greenwood Capital Associates LLC purchased a new stake in shares of Incyte during the third quarter valued at approximately $433,000. Tri Ri Asset Management Corp purchased a new stake in shares of Incyte during the third quarter valued at approximately $3,292,000. Finally, Cypress Capital Group bought a new stake in Incyte during the third quarter worth $971,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,695 shares of company stock worth $1,444,356 in the last three months. 17.60% of the stock is currently owned by corporate insiders.

Incyte Stock Performance

Shares of INCY opened at $74.30 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 275.20, a price-to-earnings-growth ratio of 0.41 and a beta of 0.70. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The stock’s 50-day simple moving average is $71.56 and its 200 day simple moving average is $69.73.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INCY. Oppenheimer upped their price objective on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their price target on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. The Goldman Sachs Group lifted their price objective on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their target price on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average target price of $75.25.

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.