Ellis Investment Partners LLC Purchases 950 Shares of Incyte Co. (NASDAQ:INCY)

Ellis Investment Partners LLC boosted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,756 shares of the biopharmaceutical company’s stock after acquiring an additional 950 shares during the period. Ellis Investment Partners LLC’s holdings in Incyte were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in shares of Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after buying an additional 2,676,851 shares during the period. AQR Capital Management LLC increased its holdings in Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after purchasing an additional 779,243 shares during the period. Swedbank AB bought a new stake in shares of Incyte in the first quarter valued at about $37,440,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Incyte by 122.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock valued at $54,116,000 after purchasing an additional 490,680 shares in 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 recently issued reports on INCY. Deutsche Bank Aktiengesellschaft lifted their target price on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Citigroup lifted their price objective on shares of Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Guggenheim increased their target price on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Wells Fargo & Company lowered their price target on shares of Incyte from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. Finally, Bank of America increased their price objective on shares of Incyte from $66.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and a consensus target price of $73.42.

Incyte Stock Performance

Shares of INCY traded down $0.17 during trading hours on Friday, hitting $65.07. The company had a trading volume of 1,086,374 shares, compared to its average volume of 1,311,954. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 180.75, a PEG ratio of 5.31 and a beta of 0.73. 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 business has a fifty day moving average of $65.15 and a 200-day moving average of $61.25. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that Incyte Co. will post 0.66 EPS for the current fiscal year.

Insider Transactions at Incyte

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is owned by corporate 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.