Baker BROS. Advisors LP Increases Stock Holdings in Incyte Co. (NASDAQ:INCY)

Baker BROS. Advisors LP grew its holdings in Incyte Co. (NASDAQ:INCY) by 0.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,739,020 shares of the biopharmaceutical company’s stock after purchasing an additional 496 shares during the period. Incyte comprises approximately 21.1% of Baker BROS. Advisors LP’s holdings, making the stock its 2nd largest holding. Baker BROS. Advisors LP owned approximately 15.96% of Incyte worth $2,031,849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MFA Wealth Advisors LLC purchased a new stake in shares of Incyte in the second quarter valued at approximately $26,000. Brooklyn Investment Group bought a new stake in Incyte during the 3rd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte in the 3rd quarter worth $33,000. Innealta Capital LLC bought a new position in shares of Incyte during the 2nd quarter worth $32,000. Finally, Cromwell Holdings LLC increased its stake in shares of Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 283 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Incyte

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This trade represents a 18.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Tray sold 572 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents 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 have sold 12,702 shares of company stock valued at $856,166. 17.60% of the stock is owned by insiders.

Incyte Trading Down 1.1 %

Incyte stock opened at $74.59 on Monday. The stock has a 50-day moving average price of $70.76 and a 200 day moving average price of $65.22. The company has a market capitalization of $14.37 billion, a price-to-earnings ratio of 532.82, a price-to-earnings-growth ratio of 8.60 and a beta of 0.71. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. 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 (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Sell-side analysts anticipate that Incyte Co. will post 0.4 EPS for the current year.

Analyst Ratings Changes

INCY has been the subject of a number of research reports. Citigroup upped their price objective on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. Royal Bank of Canada lifted their price objective on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. Oppenheimer upped their target price on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price target (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Incyte currently has an average rating of “Hold” and an average price target of $77.16.

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.