Incyte Co. (NASDAQ:INCY) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP increased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 142.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 308,632 shares of the biopharmaceutical company’s stock after acquiring an additional 181,504 shares during the quarter. Bridgewater Associates LP’s holdings in Incyte were worth $20,401,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Haverford Trust Co lifted its holdings in shares of Incyte by 1.8% in the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after acquiring an additional 135 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 155 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in shares of Incyte by 37.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 164 shares during the period. Moody National Bank Trust Division grew its stake in shares of Incyte by 1.3% in the second quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after buying an additional 179 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Incyte by 4.0% in the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock valued at $287,000 after buying an additional 182 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 0.9 %

NASDAQ:INCY opened at $75.45 on Thursday. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The stock’s 50 day moving average price is $70.41 and its 200 day moving average price is $64.92. The company has a market capitalization of $14.54 billion, a PE ratio of 538.93, a P/E/G ratio of 8.48 and a beta of 0.71.

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

Insider Activity

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % 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, insider Thomas Tray sold 572 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the sale, the insider now owns 24,825 shares in the company, valued at $1,562,485.50. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,702 shares of company stock valued at $856,166. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Guggenheim lifted their price objective on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. increased their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price target on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $77.16.

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.