Headlands Technologies LLC Purchases Shares of 3,997 Incyte Co. (NASDAQ:INCY)

Headlands Technologies LLC purchased a new stake in Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,997 shares of the biopharmaceutical company’s stock, valued at approximately $251,000.

A number of other hedge funds have also recently bought and sold shares of INCY. CWM LLC boosted its holdings in Incyte by 85.2% in the 3rd quarter. CWM LLC now owns 5,129 shares of the biopharmaceutical company’s stock valued at $296,000 after purchasing an additional 2,360 shares during the period. Czech National Bank boosted its holdings in Incyte by 48.3% in the 3rd quarter. Czech National Bank now owns 32,507 shares of the biopharmaceutical company’s stock valued at $1,878,000 after purchasing an additional 10,588 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Incyte by 12.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 20,009 shares of the biopharmaceutical company’s stock valued at $1,156,000 after purchasing an additional 2,197 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Incyte by 5.8% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 106,964 shares of the biopharmaceutical company’s stock valued at $6,179,000 after purchasing an additional 5,900 shares during the period. Finally, Toews Corp ADV bought a new stake in Incyte in the 3rd quarter valued at $774,000. 96.97% of the stock is owned by institutional investors.

Incyte Trading Up 1.0 %

Shares of Incyte stock opened at $51.68 on Friday. The stock has a market capitalization of $11.60 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.20 and a beta of 0.65. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $56.78 and a 200 day simple moving average of $57.70. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $75.74.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. Research analysts expect that Incyte Co. will post 3.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on INCY shares. BMO Capital Markets increased their price target on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. Oppenheimer dropped their price objective on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday. William Blair restated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Truist Financial dropped their price objective on shares of Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Finally, Citigroup dropped their price objective on shares of Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.50.

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.