CreativeOne Wealth LLC Buys New Shares in Incyte Co. (NASDAQ:INCY)

CreativeOne Wealth LLC purchased a new position in shares of Incyte Co. (NASDAQ:INCY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,915 shares of the biopharmaceutical company’s stock, valued at approximately $457,000.

Several other large investors have also made changes to their positions in the company. Bridgewater Associates LP increased its stake in Incyte by 142.8% during the third quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock worth $20,401,000 after acquiring an additional 181,504 shares during the last quarter. Freedom Investment Management Inc. acquired a new stake in Incyte during the 3rd quarter worth approximately $1,064,000. Brooklyn Investment Group purchased a new position in Incyte in the third quarter valued at approximately $30,000. The Manufacturers Life Insurance Company lifted its position in Incyte by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 165,537 shares of the biopharmaceutical company’s stock valued at $10,942,000 after buying an additional 41,348 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Incyte by 24.5% during the third quarter. Fisher Asset Management LLC now owns 11,522 shares of the biopharmaceutical company’s stock worth $762,000 after buying an additional 2,264 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Incyte

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the 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 completion of the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. This trade represents a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock worth $856,166 in the last three months. 17.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on INCY shares. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and lifted their target price for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Wells Fargo & Company upped their target price on Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their target price on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. Citigroup upped their target price on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus price target of $77.16.

Incyte Stock Down 1.1 %

Incyte stock opened at $74.59 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a 50-day simple moving average of $70.76 and a 200-day simple moving average of $65.22. The firm has a market capitalization of $14.37 billion, a P/E ratio of 532.82, a P/E/G ratio of 8.60 and a beta of 0.71.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. As a group, equities analysts expect that Incyte Co. will post 0.4 earnings per share for the current year.

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.