1,740 Shares in Incyte Co. (NASDAQ:INCY) Bought by United Community Bank

United Community Bank acquired a new stake in Incyte Co. (NASDAQ:INCY) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,740 shares of the biopharmaceutical company’s stock, valued at approximately $99,000.

Other hedge funds have also made changes to their positions in the company. Cape Investment Advisory Inc. acquired a new position in shares of Incyte in the fourth quarter valued at approximately $25,000. Larson Financial Group LLC boosted its holdings in Incyte by 4,220.0% in the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 422 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Incyte during the 1st quarter worth approximately $28,000. Riverview Trust Co purchased a new position in Incyte in the first quarter worth $29,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Incyte during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

NASDAQ:INCY traded up $0.17 during midday trading on Wednesday, reaching $60.87. 442,164 shares of the company traded hands, compared to its average volume of 2,590,852. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $67.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. The company has a fifty day moving average price of $58.38 and a 200 day moving average price of $58.55. The firm has a market capitalization of $13.67 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.25 and a beta of 0.73.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The firm had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. On average, analysts expect that Incyte Co. will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the transaction, the executive vice president now directly owns 66,377 shares in the company, valued at $3,982,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the transaction, the executive vice president now owns 66,377 shares in the company, valued at $3,982,620. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the transaction, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

INCY has been the subject of several research reports. Oppenheimer reduced their price objective on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. BMO Capital Markets reissued an “underperform” rating and issued a $48.00 price objective (down previously from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. TD Cowen lowered their price objective on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.44.

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.