JGP Global Gestao de Recursos Ltda. Has $1.97 Million Position in Incyte Co. (NASDAQ:INCY)

JGP Global Gestao de Recursos Ltda. boosted its stake in Incyte Co. (NASDAQ:INCY) by 151.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,306 shares of the biopharmaceutical company’s stock after purchasing an additional 18,849 shares during the quarter. Incyte comprises about 1.9% of JGP Global Gestao de Recursos Ltda.’s investment portfolio, making the stock its 7th largest holding. JGP Global Gestao de Recursos Ltda.’s holdings in Incyte were worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Clear Street Markets LLC increased its holdings in shares of Incyte by 93.6% in the first quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 175 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Incyte by 91.0% in the first quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 213 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Incyte by 1,458.0% in the second quarter. Salem Investment Counselors Inc. now owns 779 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 729 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Incyte in the first quarter worth about $71,000. Finally, Penserra Capital Management LLC increased its holdings in shares of Incyte by 9,866.7% in the second quarter. Penserra Capital Management LLC now owns 1,196 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 1,184 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Vijay K. Iyengar sold 657 shares of Incyte stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $65.00, for a total value of $42,705.00. Following the transaction, the executive vice president now owns 43,412 shares in the company, valued at approximately $2,821,780. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 17.50% of the company’s stock.

Incyte Stock Performance

Shares of NASDAQ INCY traded up $0.58 during trading hours on Wednesday, reaching $57.13. 345,724 shares of the stock were exchanged, compared to its average volume of 1,710,880. The stock’s fifty day simple moving average is $59.32 and its 200 day simple moving average is $58.64. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $76.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55. The firm has a market capitalization of $12.83 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 1.23 and a beta of 0.65.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the business earned $0.44 EPS. Incyte’s revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict that Incyte Co. will post 3.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on INCY. JMP Securities downgraded Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Jefferies Financial Group began coverage on Incyte in a report on Friday, February 23rd. They set a “buy” rating and a $81.00 price objective for the company. Stifel Nicolaus increased their price objective on Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $65.00 price objective on shares of Incyte in a report on Monday. Finally, SVB Leerink upgraded Incyte from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a report on Wednesday, December 13th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.07.

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.