Sivia Capital Partners LLC Invests $295,000 in Incyte Co. (NASDAQ:INCY)

Sivia Capital Partners LLC purchased a new position in shares of Incyte Co. (NASDAQ:INCY) in the first quarter, HoldingsChannel reports. The institutional investor purchased 4,871 shares of the biopharmaceutical company’s stock, valued at approximately $295,000.

A number of other large investors also recently modified their holdings of INCY. Quintet Private Bank Europe S.A. bought a new stake in shares of Incyte during the fourth quarter valued at approximately $26,000. Raiffeisen Bank International AG bought a new stake in shares of Incyte during the fourth quarter valued at approximately $34,000. Blue Trust Inc. increased its position in shares of Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 329 shares during the period. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Incyte during the fourth quarter valued at approximately $42,000. Finally, NBC Securities Inc. increased its position in shares of Incyte by 88,200.0% during the first quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 882 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INCY has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on Incyte from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company upped their price target on Incyte from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Morgan Stanley lowered their price target on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. Stifel Nicolaus upped their price target on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Finally, William Blair cut Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.53.

Insiders Place Their Bets

In related news, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.80% of the company’s stock.

Incyte Price Performance

Incyte stock opened at $68.77 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The firm has a market cap of $13.31 billion, a P/E ratio of 254.71, a P/E/G ratio of 0.41 and a beta of 0.67. The business’s fifty day moving average is $61.44 and its two-hundred day moving average is $67.15. Incyte Co. has a 52 week low of $53.56 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Equities research analysts forecast that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

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.