Blackhawk Capital Partners LLC. Decreases Stake in Incyte Co. (NASDAQ:INCY)

Blackhawk Capital Partners LLC. reduced its stake in Incyte Co. (NASDAQ:INCY) by 62.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,812 shares of the biopharmaceutical company’s stock after selling 8,030 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in Incyte were worth $318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MFA Wealth Advisors LLC purchased a new position in Incyte during the 2nd quarter worth approximately $26,000. Innealta Capital LLC purchased a new position in Incyte during the 2nd quarter worth approximately $32,000. Itau Unibanco Holding S.A. purchased a new position in Incyte during the 2nd quarter worth approximately $36,000. Deseret Mutual Benefit Administrators raised its position in Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 164 shares during the last quarter. Finally, Cromwell Holdings LLC grew its stake in shares of Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on INCY shares. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and set a $52.00 price objective (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.16.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock worth $856,166 in the last quarter. Company insiders own 17.60% of the company’s stock.

Incyte Trading Up 0.7 %

Shares of INCY stock opened at $71.05 on Thursday. The stock’s fifty day moving average is $69.59 and its two-hundred day moving average is $64.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The firm has a market capitalization of $13.69 billion, a P/E ratio of 507.54, a PEG ratio of 8.14 and a beta of 0.71. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. Research analysts expect that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Incyte 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.