28,248 Shares in Incyte Co. (NASDAQ:INCY) Bought by Bridgewater Associates LP

Bridgewater Associates LP bought a new position in Incyte Co. (NASDAQ:INCY) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 28,248 shares of the biopharmaceutical company’s stock, valued at approximately $2,377,000.

Other large investors have also modified their holdings of the company. Red Door Wealth Management LLC purchased a new position in Incyte in the 2nd quarter worth $25,000. IFP Advisors Inc increased its position in shares of Incyte by 852.9% in the second quarter. IFP Advisors Inc now owns 324 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 290 shares during the period. Allworth Financial LP purchased a new position in shares of Incyte in the second quarter valued at about $30,000. Parallel Advisors LLC increased its position in shares of Incyte by 81.2% in the second quarter. Parallel Advisors LLC now owns 366 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 164 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Incyte in the second quarter valued at about $35,000. Institutional investors own 91.98% of the company’s stock.

In other Incyte news, EVP Vijay K. Iyengar sold 4,911 shares of the company’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $78.29, for a total value of $384,482.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dashyant Dhanak sold 388 shares of the company’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $76.71, for a total transaction of $29,763.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,688 shares of company stock valued at $440,958. 15.80% of the stock is owned by corporate insiders.

INCY has been the topic of several research reports. TheStreet lowered shares of Incyte from a “b-” rating to a “c+” rating in a research note on Friday, August 20th. Truist dropped their target price on shares of Incyte from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, October 4th. Royal Bank of Canada dropped their target price on shares of Incyte from $91.00 to $86.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 23rd. JMP Securities reiterated a “buy” rating and issued a $124.00 target price on shares of Incyte in a research note on Friday, September 24th. Finally, Truist Securities dropped their target price on shares of Incyte from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, October 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $92.56.

Shares of INCY stock opened at $64.22 on Thursday. Incyte Co. has a 12 month low of $64.08 and a 12 month high of $101.47. The stock has a market cap of $14.18 billion, a P/E ratio of 42.25, a P/E/G ratio of 0.88 and a beta of 0.76. The company has a current ratio of 3.97, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. The company has a 50 day simple moving average of $72.39 and a two-hundred day simple moving average of $78.86.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, August 3rd. The biopharmaceutical company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.26. Incyte had a net margin of 12.41% and a return on equity of 15.77%. The business had revenue of $705.71 million during the quarter, compared to analysts’ expectations of $686.95 million. During the same period in the prior year, the company earned $1.24 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, equities analysts forecast that Incyte Co. will post 2.25 earnings per share for the current year.

About Incyte

Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late stage development, and commercialized products such as JAKAFI (ruxolitinib), and ICLUSIG (ponatinib).

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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