Summit Trail Advisors LLC Takes Position in Incyte Co. (NASDAQ:INCY)

Summit Trail Advisors LLC bought a new stake in Incyte Co. (NASDAQ:INCY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,470 shares of the biopharmaceutical company’s stock, valued at approximately $362,000.

Several other hedge funds have also bought and sold shares of the company. Cerity Partners LLC lifted its stake in Incyte by 40.7% in the 3rd quarter. Cerity Partners LLC now owns 19,157 shares of the biopharmaceutical company’s stock valued at $1,266,000 after purchasing an additional 5,537 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Incyte by 29.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after purchasing an additional 364,169 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Incyte during the third quarter worth approximately $4,739,000. Cypress Capital Group acquired a new stake in Incyte during the third quarter worth approximately $971,000. Finally, Grandfield & Dodd LLC lifted its position in Incyte by 3.2% during the third quarter. Grandfield & Dodd LLC now owns 19,525 shares of the biopharmaceutical company’s stock worth $1,291,000 after acquiring an additional 610 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.16.

Incyte Stock Performance

NASDAQ INCY opened at $75.45 on Thursday. The firm’s fifty day moving average price is $70.41 and its two-hundred day moving average price is $64.92. The stock has a market cap of $14.54 billion, a PE ratio of 538.93, a PEG ratio of 8.48 and a beta of 0.71. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion for 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 business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. On average, equities analysts expect that Incyte Co. will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,702 shares of company stock valued at $856,166. 17.60% of the stock is currently owned by insiders.

Incyte 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.