Incyte Co. (NASDAQ:INCY) Holdings Decreased by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC reduced its stake in shares of Incyte Co. (NASDAQ:INCY) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 471,687 shares of the biopharmaceutical company’s stock after selling 28,073 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Incyte were worth $31,179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. ProShare Advisors LLC raised its stake in shares of Incyte by 14.4% during the first quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock valued at $3,594,000 after purchasing an additional 7,925 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in shares of Incyte during the first quarter valued at about $463,000. Magnetar Financial LLC bought a new stake in shares of Incyte during the first quarter valued at about $1,817,000. Greenwood Capital Associates LLC bought a new stake in shares of Incyte during the third quarter valued at about $433,000. Finally, Andra AP fonden raised its stake in shares of Incyte by 35.2% during the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock valued at $15,022,000 after purchasing an additional 64,500 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 58,042 shares in the company, valued at $4,624,786.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the sale, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock valued at $856,166 in the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Incyte Trading Up 1.3 %

NASDAQ:INCY opened at $83.38 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The stock’s 50-day moving average is $67.48 and its two-hundred day moving average is $62.79. The stock has a market cap of $16.06 billion, a PE ratio of 595.61, a price-to-earnings-growth ratio of 9.33 and a beta of 0.71.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share 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 business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm earned $0.91 EPS. The company’s revenue was up 23.8% compared to the same quarter last year. As a group, equities research analysts forecast that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INCY. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Guggenheim lifted their target price on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Morgan Stanley lifted their target price on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup lifted their target price on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $76.74.

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.