Olympiad Research LP Invests $282,000 in Incyte Corporation $INCY

Olympiad Research LP bought a new position in shares of Incyte Corporation (NASDAQ:INCY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,134 shares of the biopharmaceutical company’s stock, valued at approximately $282,000.

A number of other hedge funds have also recently bought and sold shares of INCY. Czech National Bank raised its stake in shares of Incyte by 6.4% in the second quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock valued at $2,674,000 after purchasing an additional 2,378 shares in the last quarter. denkapparat Operations GmbH increased its holdings in Incyte by 46.1% in the 2nd quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock valued at $769,000 after buying an additional 3,564 shares during the period. Hussman Strategic Advisors Inc. increased its holdings in Incyte by 20.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock valued at $4,290,000 after buying an additional 10,500 shares during the period. Poinciana Advisors Group LLC acquired a new position in shares of Incyte in the 2nd quarter valued at $229,000. Finally, OMNI 360 Wealth Inc. bought a new position in shares of Incyte during the 2nd quarter worth about $310,000. 96.97% of the stock is owned by institutional investors.

Incyte Trading Down 2.6%

Shares of INCY opened at $105.41 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20. The company has a market cap of $20.69 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.70 and a beta of 0.74. The stock has a fifty day moving average price of $89.99 and a two-hundred day moving average price of $77.70. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $109.28.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. Analysts predict that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on INCY shares. Truist Financial reissued a “hold” rating and issued a $93.00 price target (up previously from $79.00) on shares of Incyte in a research report on Wednesday, October 29th. BMO Capital Markets reaffirmed an “underperform” rating and issued a $60.00 price target (up previously from $52.00) on shares of Incyte in a research note on Wednesday, July 30th. Bank of America upped their price target on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Incyte in a report on Wednesday, October 8th. Finally, Oppenheimer downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.77.

Insider Buying and Selling

In other news, EVP Lee Heeson sold 3,074 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the sale, the executive vice president directly owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sheila A. Denton sold 598 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total value of $60,613.28. Following the sale, the executive vice president owned 26,569 shares of the company’s stock, valued at approximately $2,693,033.84. The trade was a 2.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 4,227 shares of company stock worth $396,327 over the last quarter. 17.80% of the stock is owned by company insiders.

Incyte Company 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.