Haven Capital Group Inc. Invests $1.39 Million in Incyte Co. (NASDAQ:INCY)

Haven Capital Group Inc. purchased a new stake in shares of Incyte Co. (NASDAQ:INCY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 20,142 shares of the biopharmaceutical company’s stock, valued at approximately $1,391,000. Incyte accounts for about 1.3% of Haven Capital Group Inc.’s holdings, making the stock its 20th largest position.

Other large investors have also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. acquired a new position in Incyte during the fourth quarter valued at $26,000. Global X Japan Co. Ltd. raised its position in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 230 shares during the period. Brooklyn Investment Group acquired a new position in Incyte during the third quarter valued at $30,000. R Squared Ltd acquired a new position in Incyte during the fourth quarter valued at $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Incyte during the third quarter valued at $33,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Stock Performance

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

Incyte (NASDAQ:INCY) last released its earnings results 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 net margin of 0.77% and a return on equity of 0.05%. On average, equities analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,020 shares of company stock valued at $1,981,882 in the last 90 days. 17.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INCY. William Blair restated an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. UBS Group began coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. Stifel Nicolaus boosted their target price on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada lowered their target price on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.25.

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.