First Financial Bankshares Inc Has $2.63 Million Holdings in Incyte Co. (NASDAQ:INCY)

First Financial Bankshares Inc lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 4.0% during the third quarter, Holdings Channel.com reports. The firm owned 39,802 shares of the biopharmaceutical company’s stock after buying an additional 1,518 shares during the period. First Financial Bankshares Inc’s holdings in Incyte were worth $2,631,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. MFA Wealth Advisors LLC bought a new position in Incyte in the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Incyte during the first quarter worth $28,000. Fidelis Capital Partners LLC acquired a new position in shares of Incyte during the first quarter valued at $32,000. Innealta Capital LLC bought a new position in Incyte in the second quarter valued at about $32,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Incyte in the second quarter worth about $36,000. 96.97% of the stock is owned by institutional investors.

Incyte Trading Down 0.3 %

INCY opened at $65.07 on Monday. The stock has a market capitalization of $12.53 billion, a P/E ratio of 180.75, a P/E/G ratio of 5.31 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 Co. has a 12 month low of $50.27 and a 12 month high of $70.36. The firm’s fifty day simple moving average is $65.15 and its 200 day simple moving average is $61.30.

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

Insiders Place Their Bets

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Incyte news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the sale, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $67.00 target price on shares of Incyte in a research report on Tuesday, September 3rd. Guggenheim increased their price objective on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. Citigroup lifted their target price on shares of Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price 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, Truist Financial reaffirmed a “hold” rating and set a $74.00 price objective (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.42.

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.