Heron Bay Capital Management Grows Position in Incyte Co. (NASDAQ:INCY)

Heron Bay Capital Management lifted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,302 shares of the biopharmaceutical company’s stock after acquiring an additional 296 shares during the quarter. Heron Bay Capital Management’s holdings in Incyte were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Fox Run Management L.L.C. purchased a new stake in shares of Incyte during the fourth quarter valued at $551,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Incyte during the fourth quarter valued at $3,785,000. AXQ Capital LP purchased a new position in Incyte in the fourth quarter worth about $456,000. Sei Investments Co. boosted its position in Incyte by 1.6% in the fourth quarter. Sei Investments Co. now owns 203,178 shares of the biopharmaceutical company’s stock worth $14,033,000 after purchasing an additional 3,216 shares during the last quarter. Finally, DCF Advisers LLC boosted its position in Incyte by 0.5% in the fourth quarter. DCF Advisers LLC now owns 48,500 shares of the biopharmaceutical company’s stock worth $3,350,000 after purchasing an additional 250 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INCY. Stifel Nicolaus raised their target price on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. William Blair cut Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Guggenheim cut Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research report on Tuesday, March 18th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Incyte has a consensus rating of “Hold” and a consensus price target of $75.13.

Incyte Stock Up 2.2 %

Shares of INCY opened at $61.92 on Friday. The business’s 50 day moving average is $70.61 and its 200 day moving average is $70.13. The company has a market capitalization of $11.98 billion, a PE ratio of 229.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

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

Insider Transactions at Incyte

In other news, EVP Sheila A. Denton sold 599 shares of the company’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 transaction of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock valued at $3,322,618 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

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.