Coldstream Capital Management Inc. Buys Shares of 4,296 Incyte Co. (NASDAQ:INCY)

Coldstream Capital Management Inc. purchased a new position in Incyte Co. (NASDAQ:INCY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,296 shares of the biopharmaceutical company’s stock, valued at approximately $302,000.

Other large investors also recently modified their holdings of the company. MFA Wealth Advisors LLC bought a new position in Incyte in the 2nd quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in shares of Incyte during the third quarter valued at approximately $30,000. Innealta Capital LLC bought a new stake in Incyte during the second quarter worth approximately $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte in the third quarter worth approximately $33,000. Finally, Itau Unibanco Holding S.A. bought a new position in Incyte during the 2nd quarter valued at $36,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INCY. The Goldman Sachs Group upped their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and increased their target price for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. Royal Bank of Canada lifted their price target on shares of Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets reiterated an “underperform” rating and set a $52.00 price objective (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $76.13.

Incyte Stock Down 3.2 %

INCY stock opened at $68.55 on Monday. The company has a 50 day moving average of $72.14 and a two-hundred day moving average of $66.31. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 489.64, a PEG ratio of 8.36 and a beta of 0.69. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

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

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.