Incyte Co. (NASDAQ:INCY) Shares Sold by Ashford Capital Management Inc.

Ashford Capital Management Inc. decreased its stake in Incyte Co. (NASDAQ:INCY) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 240,640 shares of the biopharmaceutical company’s stock after selling 4,130 shares during the quarter. Incyte makes up 2.0% of Ashford Capital Management Inc.’s holdings, making the stock its 21st largest position. Ashford Capital Management Inc. owned about 0.12% of Incyte worth $15,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte during the 2nd quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in Incyte during the third quarter worth $30,000. Innealta Capital LLC acquired a new stake in Incyte during the second quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte during the third quarter valued at $33,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Incyte in the second quarter valued at $36,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Oppenheimer raised their target price on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. Wolfe Research started coverage on Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 target price on the stock. William Blair reissued an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Finally, Citigroup increased their price objective on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Incyte has an average rating of “Hold” and an average price target of $77.16.

Incyte Stock Performance

Shares of Incyte stock opened at $72.11 on Tuesday. The business’s 50 day moving average price is $71.86 and its 200 day moving average price is $65.92. The company has a market cap of $13.89 billion, a price-to-earnings ratio of 515.07, a PEG ratio of 8.75 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte Co. has a one year low of $50.35 and a one year high of $83.95.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm posted $0.91 EPS. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, research analysts predict that Incyte Co. will post 0.4 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 3,680 shares of the 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 sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This trade represents a 18.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,745 shares of company stock valued at $1,311,687 over the last 90 days. 17.60% of the stock is owned by company 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.