Incyte Co. (NASDAQ:INCY) Stock Position Lowered by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its position in shares of Incyte Co. (NASDAQ:INCY) by 53.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,056 shares of the biopharmaceutical company’s stock after selling 24,118 shares during the period. Sanctuary Advisors LLC’s holdings in Incyte were worth $1,510,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Tri Ri Asset Management Corp acquired a new position in Incyte in the third quarter worth approximately $3,234,000. Toronto Dominion Bank grew its holdings in shares of Incyte by 16.9% in the 3rd quarter. Toronto Dominion Bank now owns 54,084 shares of the biopharmaceutical company’s stock worth $3,575,000 after acquiring an additional 7,812 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Incyte during the third quarter worth $302,000. Barclays PLC lifted its holdings in shares of Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock valued at $68,208,000 after purchasing an additional 77,542 shares during the last quarter. Finally, Groupama Asset Managment boosted its position in shares of Incyte by 11.4% in the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 6,105 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,023 shares of company stock worth $839,711. 17.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

INCY has been the topic of several recent analyst reports. UBS Group assumed coverage on Incyte in a report on Tuesday. They set a “neutral” rating and a $77.00 price objective on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Tuesday, November 19th. Wells Fargo & Company raised their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday. Oppenheimer boosted their target price on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.29.

Incyte Price Performance

NASDAQ INCY opened at $68.84 on Friday. The company has a 50 day moving average price of $72.42 and a two-hundred day moving average price of $66.56. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The stock has a market capitalization of $13.26 billion, a PE ratio of 491.75, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

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