Entropy Technologies LP Invests $1.61 Million in Incyte Co. (NASDAQ:INCY)

Entropy Technologies LP bought a new stake in Incyte Co. (NASDAQ:INCY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,337 shares of the biopharmaceutical company’s stock, valued at approximately $1,612,000.

Several other large investors have also recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC acquired a new position in shares of Incyte during the third quarter valued at $770,000. CWA Asset Management Group LLC bought a new position in Incyte in the 4th quarter valued at about $1,933,000. Greenwood Capital Associates LLC bought a new stake in shares of Incyte during the 3rd quarter worth about $433,000. Tri Ri Asset Management Corp acquired a new stake in shares of Incyte in the 3rd quarter worth approximately $3,292,000. Finally, Cypress Capital Group acquired a new stake in shares of Incyte in the 3rd quarter worth approximately $971,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on INCY shares. The Goldman Sachs Group boosted their target price on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, January 14th. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, Oppenheimer upped their price target on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $75.71.

Insider Activity

In other news, insider Thomas Tray sold 650 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the transaction, the insider now directly owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,695 shares of company stock worth $1,444,356 in the last 90 days. Company insiders own 17.60% of the company’s stock.

Incyte Stock Down 1.1 %

NASDAQ:INCY opened at $74.13 on Monday. The business’s fifty day moving average price is $71.79 and its 200 day moving average price is $69.16. The firm has a market capitalization of $14.28 billion, a price-to-earnings ratio of 529.54, a PEG ratio of 0.53 and a beta of 0.70. 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 1-year low of $50.35 and a 1-year high of $83.95.

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.