Inspire Investing LLC Makes New $3.52 Million Investment in Incyte Co. (NASDAQ:INCY)

Inspire Investing LLC bought a new position in shares of Incyte Co. (NASDAQ:INCYGet Rating) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 44,353 shares of the biopharmaceutical company’s stock, valued at approximately $3,523,000.

A number of other large investors have also recently added to or reduced their stakes in INCY. Tudor Investment Corp Et Al lifted its holdings in Incyte by 1,142.3% during the 3rd quarter. Tudor Investment Corp Et Al now owns 58,066 shares of the biopharmaceutical company’s stock worth $3,994,000 after buying an additional 53,392 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Incyte by 79.8% in the 3rd quarter. Janus Henderson Group PLC now owns 38,904 shares of the biopharmaceutical company’s stock worth $2,676,000 after purchasing an additional 17,263 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of Incyte in the 3rd quarter worth approximately $208,000. DNB Asset Management AS lifted its holdings in shares of Incyte by 3.8% in the 4th quarter. DNB Asset Management AS now owns 29,018 shares of the biopharmaceutical company’s stock worth $2,130,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Stonnington Group LLC bought a new stake in shares of Incyte in the 4th quarter worth approximately $677,000. 92.78% of the stock is currently owned by institutional investors.

INCY has been the topic of several recent research reports. TheStreet downgraded Incyte from a “b” rating to a “c” rating in a report on Tuesday, May 3rd. Morgan Stanley raised their price target on Incyte from $73.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 20th. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 14th. Finally, Stifel Nicolaus lifted their target price on Incyte from $75.00 to $77.00 in a research note on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.09.

Shares of INCY stock opened at $77.67 on Friday. Incyte Co. has a 12 month low of $61.91 and a 12 month high of $84.86. The company has a quick ratio of 3.67, a current ratio of 3.71 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $74.57 and its two-hundred day moving average is $74.28. The company has a market cap of $17.20 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 0.94 and a beta of 0.71.

Incyte (NASDAQ:INCYGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. Incyte had a return on equity of 12.77% and a net margin of 29.95%. The company had revenue of $733.20 million for the quarter, compared to the consensus estimate of $753.54 million. During the same quarter last year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, equities analysts expect that Incyte Co. will post 2.31 EPS for the current fiscal year.

In other Incyte news, EVP Barry P. Flannelly sold 43,993 shares of the stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $83.49, for a total transaction of $3,672,975.57. Following the transaction, the executive vice president now owns 65,163 shares in the company, valued at $5,440,458.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 15.80% of the company’s stock.

Incyte Company Profile (Get Rating)

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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