GraniteShares Advisors LLC Has $559,000 Holdings in Incyte Co. (NASDAQ:INCY)

GraniteShares Advisors LLC lifted its holdings in Incyte Co. (NASDAQ:INCY) by 19.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,217 shares of the biopharmaceutical company’s stock after acquiring an additional 1,521 shares during the quarter. GraniteShares Advisors LLC’s holdings in Incyte were worth $559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Incyte by 48.8% in the 4th quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock worth $8,266,000 after acquiring an additional 43,160 shares in the last quarter. Fulton Bank N.A. bought a new position in Incyte in the 1st quarter valued at $1,425,000. Great Lakes Advisors LLC bought a new position in Incyte in the 4th quarter valued at $2,033,000. FORVIS Wealth Advisors LLC bought a new position in Incyte in the 1st quarter valued at $1,495,000. Finally, ProShare Advisors LLC boosted its position in Incyte by 14.4% in the 1st quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock valued at $3,594,000 after buying an additional 7,925 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on INCY. BMO Capital Markets reiterated an “underperform” rating and issued a $48.00 price objective (down from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. increased their price objective on Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Bank of America increased their price objective on Incyte from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada increased their price objective on Incyte from $66.00 to $67.00 and gave the company a “sector perform” rating in a research report on Thursday, August 15th. Finally, Citigroup increased their price target on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.29.

Incyte Trading Down 0.4 %

Incyte stock traded down $0.25 during mid-day trading on Friday, hitting $65.66. 2,548,307 shares of the company’s stock were exchanged, compared to its average volume of 1,785,361. The firm has a market capitalization of $12.65 billion, a P/E ratio of 19.90, a PEG ratio of 5.23 and a beta of 0.73. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The company’s 50 day simple moving average is $63.21 and its 200-day simple moving average is $59.27.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.77 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Incyte Co. will post 0.67 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the sale, the executive vice president now owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the sale, the executive vice president now owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction dated 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 completion of the sale, 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. Insiders have sold 45,282 shares of company stock valued at $2,876,911 in the last 90 days. 17.50% of the stock is currently 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.