1,327 Shares in Incyte Co. (INCY) Purchased by Financial Gravity Companies Inc.
Financial Gravity Companies Inc. purchased a new position in Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,327 shares of the biopharmaceutical company’s stock, valued at approximately $120,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advantage Investment Management LLC raised its holdings in Incyte by 1,233.3% in the 4th quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock worth $189,000 after purchasing an additional 1,850 shares during the period. Private Advisor Group LLC acquired a new position in Incyte in the 3rd quarter worth about $203,000. Mission Wealth Management LP acquired a new position in Incyte in the 4th quarter worth about $213,000. Caxton Associates LP acquired a new position in Incyte in the 3rd quarter worth about $257,000. Finally, Greenwood Capital Associates LLC raised its holdings in Incyte by 35.9% in the 4th quarter. Greenwood Capital Associates LLC now owns 2,719 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 718 shares during the period. 89.43% of the stock is owned by institutional investors.
A number of research firms recently weighed in on INCY. ValuEngine raised Incyte from a “sell” rating to a “hold” rating in a report on Thursday. Nomura reiterated a “buy” rating on shares of Incyte in a research note on Thursday, February 1st. Raymond James Financial set a $159.00 price objective on Incyte and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer set a $110.00 price objective on Incyte and gave the stock a “hold” rating in a research note on Tuesday, February 20th. Finally, BidaskClub lowered Incyte from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Incyte currently has an average rating of “Buy” and a consensus price target of $142.69.
Shares of Incyte Co. (INCY) opened at $86.61 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.01 and a quick ratio of 3.99. The stock has a market capitalization of $17,587.15, a P/E ratio of -55.52 and a beta of 0.65. Incyte Co. has a 52-week low of $80.85 and a 52-week high of $153.15.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.54. The business had revenue of $444.20 million during the quarter, compared to analyst estimates of $435.23 million. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. The business’s revenue was up 36.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. sell-side analysts predict that Incyte Co. will post -0.18 EPS for the current fiscal year.
Incyte Company Profile
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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