Incyte Co. (NASDAQ:INCY) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in Incyte Co. (NASDAQ:INCY) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,158 shares of the biopharmaceutical company’s stock after selling 2,971 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Incyte were worth $1,795,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. MFA Wealth Advisors LLC acquired a new position in Incyte in the 2nd quarter worth $26,000. Brooklyn Investment Group purchased a new stake in shares of Incyte during the third quarter worth about $30,000. Innealta Capital LLC acquired a new position in shares of Incyte in the second quarter worth about $32,000. Itau Unibanco Holding S.A. purchased a new position in Incyte in the second quarter valued at about $36,000. Finally, Deseret Mutual Benefit Administrators grew its stake in Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INCY. Citigroup increased their target price on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets reissued an “underperform” rating and issued a $52.00 price objective (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.16.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value 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. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,745 shares of company stock valued at $1,311,687. 17.60% of the stock is currently owned by corporate insiders.

Incyte Trading Up 0.4 %

Incyte stock opened at $74.92 on Friday. The firm has a 50-day moving average price of $71.53 and a two-hundred day moving average price of $65.57. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The firm has a market capitalization of $14.43 billion, a price-to-earnings ratio of 535.18, a PEG ratio of 8.30 and a beta of 0.69. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s quarterly revenue was up 23.8% on a year-over-year basis. Sell-side analysts expect that Incyte Co. will post 0.4 earnings per share for the current year.

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.