Empirical Finance LLC Sells 169 Shares of Incyte Co. (NASDAQ:INCY)

Empirical Finance LLC lessened its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,226 shares of the biopharmaceutical company’s stock after selling 169 shares during the quarter. Empirical Finance LLC’s holdings in Incyte were worth $377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Incyte by 1.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,262 shares of the biopharmaceutical company’s stock valued at $1,471,000 after acquiring an additional 280 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Incyte by 100.1% in the 2nd quarter. iA Global Asset Management Inc. now owns 7,809 shares of the biopharmaceutical company’s stock valued at $473,000 after purchasing an additional 3,906 shares during the period. Signaturefd LLC boosted its position in shares of Incyte by 14.3% during the second quarter. Signaturefd LLC now owns 3,611 shares of the biopharmaceutical company’s stock valued at $219,000 after purchasing an additional 451 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Incyte by 241.3% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 79,728 shares of the biopharmaceutical company’s stock worth $4,833,000 after purchasing an additional 56,370 shares during the period. Finally, Blackhawk Capital Partners LLC. grew its stake in Incyte by 8.9% in the second quarter. Blackhawk Capital Partners LLC. now owns 12,842 shares of the biopharmaceutical company’s stock worth $778,000 after purchasing an additional 1,050 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on INCY. Citigroup raised their price objective on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America boosted their price objective on shares of Incyte from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. Finally, Oppenheimer cut their price target on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus target price of $73.29.

Insider Activity at Incyte

In other news, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the transaction, the executive vice president now owns 66,377 shares in the company, valued at approximately $3,982,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the transaction, the executive vice president now directly owns 66,377 shares in the company, valued at approximately $3,982,620. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,282 shares of company stock worth $2,876,911. 17.50% of the stock is owned by insiders.

Incyte Stock Performance

Shares of INCY stock opened at $65.66 on Friday. The firm has a market capitalization of $14.74 billion, a PE ratio of 19.90, a P/E/G ratio of 1.14 and a beta of 0.73. The company has a 50 day moving average price of $63.21 and a 200-day moving average price of $59.27. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $70.36. The company has a quick ratio of 3.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. Incyte’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. As a group, equities research analysts expect that Incyte Co. will post 3.35 earnings per share for the current year.

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.