Delphi Management Inc. MA Acquires 7,583 Shares of Incyte Co. (NASDAQ:INCY)

Delphi Management Inc. MA boosted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 631.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,783 shares of the biopharmaceutical company’s stock after purchasing an additional 7,583 shares during the period. Delphi Management Inc. MA’s holdings in Incyte were worth $607,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in INCY. Retirement Systems of Alabama lifted its position in shares of Incyte by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after buying an additional 139 shares during the period. Trust Point Inc. raised its stake in Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after acquiring an additional 156 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 173 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of 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 purchasing an additional 195 shares in the last quarter. Finally, Catalyst Financial Partners LLC grew its holdings in shares of Incyte by 2.7% in the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock worth $518,000 after purchasing an additional 200 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In related news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,809,101.52. This trade represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,020 shares of company stock worth $1,981,882 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Incyte Trading Down 8.6 %

Shares of Incyte stock opened at $62.01 on Tuesday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The stock has a market cap of $12.00 billion, a P/E ratio of 229.68, a P/E/G ratio of 0.41 and a beta of 0.76. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $71.55 and its 200-day moving average is $70.31.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Equities research analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on INCY. Stifel Nicolaus lifted their price target on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. UBS Group assumed coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price for the company. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Royal Bank of Canada cut their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. Finally, William Blair reissued an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $75.25.

Incyte Profile

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.