Greenwood Capital Associates LLC Invests $433,000 in Incyte Co. (NASDAQ:INCY)

Greenwood Capital Associates LLC bought a new position in Incyte Co. (NASDAQ:INCY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,546 shares of the biopharmaceutical company’s stock, valued at approximately $433,000.

Other hedge funds also recently made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte in the 2nd quarter worth $26,000. Innealta Capital LLC purchased a new position in shares of Incyte in the 2nd quarter valued at about $32,000. Cromwell Holdings LLC increased its holdings in shares of Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 283 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Incyte in the 1st quarter valued at about $32,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Incyte in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INCY. JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Wells Fargo & Company increased their price target on shares of Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Wolfe Research assumed coverage on shares of Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price target for the company. Finally, Oppenheimer raised their target price on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $76.74.

Incyte Price Performance

Incyte stock opened at $77.28 on Wednesday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $77.37. The stock has a market capitalization of $14.89 billion, a P/E ratio of 552.04, a P/E/G ratio of 6.68 and a beta of 0.71. The firm’s 50-day moving average is $66.49 and its two-hundred day moving average is $62.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business earned $0.91 earnings per share. Incyte’s revenue for the quarter was up 23.8% on a year-over-year basis. Equities analysts predict that Incyte Co. will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the sale, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.60% of the company’s stock.

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.