Incyte Co. (NASDAQ:INCY) Shares Acquired by Diversified Trust Co

Diversified Trust Co increased its stake in shares of Incyte Co. (NASDAQ:INCY) by 45.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 52,398 shares of the biopharmaceutical company’s stock after purchasing an additional 16,336 shares during the period. Diversified Trust Co’s holdings in Incyte were worth $3,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new stake in Incyte during the 4th quarter valued at approximately $25,000. Larson Financial Group LLC grew its position in shares of Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 422 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Incyte during the first quarter worth approximately $28,000. Riverview Trust Co bought a new stake in shares of Incyte in the first quarter worth $29,000. Finally, Fidelis Capital Partners LLC bought a new position in Incyte during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INCY. Bank of America upped their target price on shares of Incyte from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. TD Cowen dropped their price target on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, BMO Capital Markets reaffirmed an “underperform” rating and issued a $48.00 price objective (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Incyte has a consensus rating of “Hold” and an average target price of $73.24.

Incyte Stock Performance

Shares of NASDAQ:INCY traded down $0.09 during trading hours on Wednesday, hitting $61.93. The stock had a trading volume of 54,303 shares, compared to its average volume of 2,521,430. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 1.92. The stock’s fifty day simple moving average is $62.40 and its 200 day simple moving average is $58.78. The firm has a market capitalization of $13.91 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.14 and a beta of 0.73. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $70.36.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Incyte Co. will post 3.35 earnings per share for the current fiscal year.

Insider Activity at Incyte

In other news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the transaction, the executive vice president now owns 66,377 shares of the company’s stock, valued at $3,982,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares in the company, valued at $1,274,458.94. The disclosure for this sale can be found here. Insiders have sold a total of 45,282 shares of company stock worth $2,876,911 over the last ninety days. 17.50% of the stock is currently owned by corporate insiders.

Incyte Company 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.