Incyte Co. (NASDAQ:INCY) Position Lessened by Inspire Investing LLC

Inspire Investing LLC lowered its position in Incyte Co. (NASDAQ:INCY) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,574 shares of the biopharmaceutical company’s stock after selling 3,539 shares during the quarter. Inspire Investing LLC’s holdings in Incyte were worth $1,426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators grew its stake in shares of Incyte by 37.1% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 164 shares in the last quarter. Moody National Bank Trust Division grew its position in Incyte by 1.3% in the second quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock worth $861,000 after acquiring an additional 179 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Incyte by 4.0% during the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock valued at $287,000 after purchasing an additional 182 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of Incyte by 4.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock valued at $271,000 after purchasing an additional 204 shares in the last quarter. Finally, Empirical Finance LLC lifted its stake in shares of Incyte by 3.7% in the 1st quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock valued at $364,000 after purchasing an additional 230 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Up 1.1 %

INCY opened at $66.12 on Monday. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $70.36. The firm has a 50-day moving average price of $64.30 and a two-hundred day moving average price of $60.59. The stock has a market capitalization of $14.85 billion, a PE ratio of 20.04, a PEG ratio of 5.30 and a beta of 0.73. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. As a group, equities analysts anticipate that Incyte Co. will post 0.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on INCY. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Monday, September 16th. Wells Fargo & Company reduced their target price on Incyte from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday. Guggenheim increased their price target on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Incyte currently has an average rating of “Hold” and an average price target of $73.21.

Insider Activity at Incyte

In other Incyte news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Barry P. Flannelly sold 1,306 shares of Incyte stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the completion of the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,899 shares of company stock worth $1,736,746 over the last 90 days. Insiders own 17.50% of the company’s stock.

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.