Incyte Co. (NASDAQ:INCY) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its position in shares of Incyte Co. (NASDAQ:INCY) by 41.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 62,256 shares of the biopharmaceutical company’s stock after selling 43,897 shares during the quarter. Intech Investment Management LLC’s holdings in Incyte were worth $4,115,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kennedy Capital Management LLC acquired a new position in Incyte during the first quarter worth about $463,000. Magnetar Financial LLC bought a new position in shares of Incyte during the 1st quarter valued at about $1,817,000. Greenwood Capital Associates LLC acquired a new position in shares of Incyte in the 3rd quarter worth approximately $433,000. Andra AP fonden raised its holdings in shares of Incyte by 35.2% in the 2nd quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock worth $15,022,000 after purchasing an additional 64,500 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Incyte by 19.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 152,452 shares of the biopharmaceutical company’s stock valued at $8,652,000 after purchasing an additional 24,328 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and upped their target price for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Oppenheimer lifted their price target on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price objective on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.16.

Incyte Stock Performance

Shares of INCY stock opened at $71.72 on Friday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The stock’s 50-day moving average is $69.90 and its two-hundred day moving average is $64.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The firm has a market cap of $13.82 billion, a P/E ratio of 512.29, a PEG ratio of 8.14 and a beta of 0.71.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS 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 analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. Analysts predict that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s 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 sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,702 shares of company stock worth $856,166. 17.60% of the stock is owned by corporate insiders.

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.