Incyte Co. (NASDAQ:INCY) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC grew its stake in shares of Incyte Co. (NASDAQ:INCY) by 4.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,500 shares of the biopharmaceutical company’s stock after acquiring an additional 500 shares during the period. Gabelli Funds LLC’s holdings in Incyte were worth $1,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Argus Investors Counsel Inc. lifted its holdings in shares of Incyte by 2.0% in the fourth quarter. Argus Investors Counsel Inc. now owns 6,706 shares of the biopharmaceutical company’s stock valued at $583,000 after purchasing an additional 129 shares in the last quarter. World Asset Management Inc lifted its holdings in shares of Incyte by 3.5% in the third quarter. World Asset Management Inc now owns 3,932 shares of the biopharmaceutical company’s stock valued at $353,000 after purchasing an additional 133 shares in the last quarter. Harvest Investment Services LLC lifted its holdings in shares of Incyte by 4.8% in the fourth quarter. Harvest Investment Services LLC now owns 2,988 shares of the biopharmaceutical company’s stock valued at $259,000 after purchasing an additional 136 shares in the last quarter. Winslow Evans & Crocker Inc. lifted its holdings in shares of Incyte by 7.5% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 2,041 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 142 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Incyte by 1.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,993 shares of the biopharmaceutical company’s stock valued at $1,076,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 91.37% of the company’s stock.

NASDAQ INCY opened at $79.92 on Tuesday. Incyte Co. has a fifty-two week low of $62.48 and a fifty-two week high of $110.36. The stock’s 50-day moving average is $90.07 and its two-hundred day moving average is $88.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.56 and a quick ratio of 3.53. The firm has a market cap of $17.57 billion, a P/E ratio of -50.90, a price-to-earnings-growth ratio of 0.98 and a beta of 0.96.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 8th. The biopharmaceutical company reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.30. Incyte had a negative return on equity of 13.66% and a negative net margin of 13.62%. The company had revenue of $788.50 million for the quarter, compared to analyst estimates of $654.08 million. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue was up 36.1% compared to the same quarter last year. On average, equities analysts expect that Incyte Co. will post -1.45 EPS for the current year.

A number of research firms have recently issued reports on INCY. Royal Bank of Canada reduced their target price on Incyte from $96.00 to $86.00 and set a “sector perform” rating for the company in a report on Friday, November 6th. BMO Capital Markets dropped their price target on shares of Incyte from $94.00 to $87.00 and set a “market perform” rating on the stock in a research note on Friday, November 6th. TheStreet raised shares of Incyte from a “c-” rating to a “b-” rating in a research note on Tuesday, February 9th. Truist assumed coverage on shares of Incyte in a research note on Thursday, January 7th. They issued a “buy” rating and a $120.00 price target on the stock. Finally, Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating in a research note on Monday, January 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $102.31.

In other news, EVP Yao Wenqing sold 21,545 shares of Incyte stock in a transaction dated Monday, January 25th. The stock was sold at an average price of $100.00, for a total value of $2,154,500.00. Following the transaction, the executive vice president now directly owns 145,343 shares in the company, valued at $14,534,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.10% of the company’s stock.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; 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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