Bryn Mawr Capital Management LLC Purchases 13,911 Shares of Incyte Co. (NASDAQ:INCY)

Bryn Mawr Capital Management LLC raised its stake in Incyte Co. (NASDAQ:INCY) by 262.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,209 shares of the biopharmaceutical company’s stock after purchasing an additional 13,911 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Incyte were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. Global X Japan Co. Ltd. grew its stake in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Brooklyn Investment Group purchased a new position in Incyte in the third quarter valued at about $30,000. R Squared Ltd purchased a new position in Incyte in the fourth quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte in the third quarter valued at about $33,000. Finally, Cromwell Holdings LLC grew its stake in Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 1.7 %

Shares of NASDAQ:INCY opened at $71.38 on Friday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a market capitalization of $13.81 billion, a PE ratio of 264.38, a PEG ratio of 0.41 and a beta of 0.70. The business has a 50 day moving average of $71.16 and a two-hundred day moving average of $69.31. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 target price (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Morgan Stanley boosted their price target on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, UBS Group began coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $75.59.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred on 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 directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,695 shares of company stock valued at $1,444,356. 17.60% 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.