Proficio Capital Partners LLC Purchases New Stake in Incyte Co. (NASDAQ:INCY)

Proficio Capital Partners LLC purchased a new stake in shares of Incyte Co. (NASDAQ:INCY) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 51,388 shares of the biopharmaceutical company’s stock, valued at approximately $3,549,000.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in shares of Incyte by 11.1% during the 4th quarter. Victory Capital Management Inc. now owns 119,358 shares of the biopharmaceutical company’s stock valued at $8,244,000 after buying an additional 11,902 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Incyte during the fourth quarter valued at approximately $212,000. Charles Schwab Investment Management Inc. lifted its position in shares of Incyte by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company’s stock worth $113,487,000 after purchasing an additional 33,847 shares in the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in shares of Incyte in the fourth quarter valued at $396,000. Finally, Grandfield & Dodd LLC grew its holdings in Incyte by 3.5% during the 4th quarter. Grandfield & Dodd LLC now owns 20,207 shares of the biopharmaceutical company’s stock valued at $1,396,000 after purchasing an additional 682 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INCY has been the topic of a number of analyst reports. Citigroup dropped their target price on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. UBS Group initiated coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price for the company. William Blair restated an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.25.

Insider Activity

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,020 shares of company stock worth $1,981,882 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Incyte Trading Down 8.6 %

Shares of NASDAQ INCY opened at $62.01 on Tuesday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The firm has a market capitalization of $12.00 billion, a P/E ratio of 229.68, a P/E/G ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The company’s 50 day simple moving average is $71.55 and its 200 day simple moving average is $70.31.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, analysts predict that Incyte Co. will post 4.86 EPS for the current year.

About Incyte

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.