Incyte Co. (NASDAQ:INCY) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of Incyte Co. (NASDAQ:INCY) by 48.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 582,107 shares of the biopharmaceutical company’s stock after selling 547,874 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Incyte were worth $38,477,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in INCY. Commerce Bank acquired a new stake in Incyte during the third quarter worth approximately $610,000. PNC Financial Services Group Inc. lifted its stake in shares of Incyte by 42.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 30,649 shares of the biopharmaceutical company’s stock worth $2,026,000 after purchasing an additional 9,083 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Incyte during the third quarter worth $292,000. Banque Cantonale Vaudoise grew its position in shares of Incyte by 336.1% in the third quarter. Banque Cantonale Vaudoise now owns 8,730 shares of the biopharmaceutical company’s stock valued at $577,000 after purchasing an additional 6,728 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Incyte in the third quarter valued at $186,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Thomas Tray sold 572 shares of the business’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 approximately $1,562,485.50. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,702 shares of company stock worth $856,166. 17.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

INCY has been the topic of a number of research analyst reports. Oppenheimer raised their price target on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. BMO Capital Markets reissued an “underperform” rating and issued a $52.00 target price (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and upped their price target for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Finally, Guggenheim upped their price objective on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $77.16.

Incyte Trading Down 8.3 %

NASDAQ INCY opened at $70.56 on Wednesday. The stock has a market cap of $13.59 billion, a P/E ratio of 504.04, a PEG ratio of 8.75 and a beta of 0.71. The company’s fifty day simple moving average is $69.43 and its 200-day simple moving average is $64.19. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. Equities research analysts predict that Incyte Co. will post 0.4 EPS for the current fiscal year.

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.