Incyte Co. (NASDAQ:INCY) Stock Holdings Lowered by Inspire Advisors LLC

Inspire Advisors LLC trimmed its holdings in shares of Incyte Co. (NASDAQ:INCY) by 6.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,589 shares of the biopharmaceutical company’s stock after selling 775 shares during the quarter. Inspire Advisors LLC’s holdings in Incyte were worth $700,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Incyte by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock valued at $1,294,120,000 after acquiring an additional 196,440 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after purchasing an additional 779,243 shares during the period. LSV Asset Management increased its stake in Incyte by 0.5% in the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after purchasing an additional 15,115 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after buying an additional 2,676,851 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after buying an additional 1,101,041 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vijay K. Iyengar sold 15,571 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,593 shares of company stock worth $1,652,914 over the last ninety days. Company insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on INCY shares. Truist Financial reissued a “hold” rating and issued a $74.00 target price (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $67.00 target price on shares of Incyte in a research note on Tuesday, September 3rd. BMO Capital Markets reaffirmed an “underperform” rating and issued a $48.00 target price (down previously from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their target price on Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte has an average rating of “Hold” and a consensus price target of $73.21.

Incyte Price Performance

NASDAQ INCY opened at $66.39 on Friday. The firm has a market cap of $14.91 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 5.30 and a beta of 0.73. The stock’s 50-day moving average is $64.79 and its two-hundred day moving average is $60.86. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84.

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