CHURCHILL MANAGEMENT Corp Acquires 4,869 Shares of Incyte Co. (NASDAQ:INCY)

CHURCHILL MANAGEMENT Corp boosted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 178,922 shares of the biopharmaceutical company’s stock after purchasing an additional 4,869 shares during the quarter. CHURCHILL MANAGEMENT Corp owned about 0.09% of Incyte worth $12,358,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Burney Co. lifted its holdings in shares of Incyte by 7.3% in the fourth quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 223 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in Incyte by 3.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after acquiring an additional 195 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in Incyte in the 4th quarter worth $1,006,000. Claro Advisors LLC bought a new position in shares of Incyte during the 4th quarter valued at about $255,000. Finally, Czech National Bank grew its position in shares of Incyte by 6.5% during the fourth quarter. Czech National Bank now owns 34,670 shares of the biopharmaceutical company’s stock valued at $2,395,000 after purchasing an additional 2,106 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research reports. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and increased their price target for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. Oppenheimer raised their target price on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Wolfe Research initiated coverage on shares of Incyte in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective for the company. Finally, Truist Financial reaffirmed a “hold” rating and issued a $74.00 price target (down previously from $83.00) on shares of Incyte in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus price target of $76.29.

Incyte Stock Up 0.7 %

NASDAQ:INCY opened at $72.46 on Thursday. The company has a market cap of $13.96 billion, a PE ratio of 517.61, a P/E/G ratio of 7.90 and a beta of 0.71. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company’s 50 day moving average is $72.95 and its two-hundred day moving average is $67.78.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. Analysts anticipate that Incyte Co. will post 0.4 EPS for the current year.

Insider Transactions at Incyte

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,023 shares of company stock worth $839,711 over the last 90 days. 17.60% of the stock is currently owned by company insiders.

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.