GC Wealth Management RIA LLC Makes New Investment in Incyte Corporation $INCY

GC Wealth Management RIA LLC acquired a new stake in Incyte Corporation (NASDAQ:INCY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,489 shares of the biopharmaceutical company’s stock, valued at approximately $1,629,000.

Several other hedge funds and other institutional investors have also modified their holdings of INCY. Harbor Capital Advisors Inc. bought a new position in Incyte during the third quarter worth $26,000. Root Financial Partners LLC bought a new stake in Incyte in the 3rd quarter valued at $28,000. Quent Capital LLC acquired a new stake in Incyte in the 3rd quarter worth $30,000. MUFG Securities EMEA plc acquired a new stake in Incyte in the 2nd quarter worth $32,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Incyte during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the transaction, the insider directly owned 262,692 shares in the company, valued at $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on INCY shares. Morgan Stanley set a $102.00 target price on shares of Incyte in a research note on Wednesday, February 11th. Wells Fargo & Company lowered their price target on Incyte from $107.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Wall Street Zen cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. TD Cowen reiterated a “buy” rating on shares of Incyte in a research report on Tuesday, January 13th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $90.00 price objective on shares of Incyte in a report on Thursday, January 8th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and a consensus price target of $104.26.

Incyte Stock Up 1.4%

Shares of INCY opened at $99.10 on Thursday. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $95.84 and a two-hundred day moving average price of $98.76. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 0.77 and a beta of 0.85. Incyte Corporation has a 12 month low of $57.77 and a 12 month high of $112.29.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.47. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. Incyte had a return on equity of 26.34% and a net margin of 25.03%.The company’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. Equities analysts predict that Incyte Corporation will post 6.46 EPS for the current fiscal year.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.