Patton Albertson Miller Group LLC Grows Position in Incyte Co. (NASDAQ:INCY)

Patton Albertson Miller Group LLC lifted its position in shares of Incyte Co. (NASDAQ:INCY) by 10.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 87,329 shares of the biopharmaceutical company’s stock after purchasing an additional 8,586 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Incyte were worth $6,032,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Fifth Third Bancorp raised its position in Incyte by 6.4% in the fourth quarter. Fifth Third Bancorp now owns 8,924 shares of the biopharmaceutical company’s stock valued at $616,000 after purchasing an additional 533 shares during the period. CX Institutional raised its holdings in shares of Incyte by 15.9% during the 4th quarter. CX Institutional now owns 3,902 shares of the biopharmaceutical company’s stock valued at $270,000 after buying an additional 535 shares during the period. RFG Advisory LLC acquired a new position in Incyte during the 4th quarter worth approximately $200,000. Whalen Wealth Management Inc. purchased a new position in Incyte in the 4th quarter worth approximately $245,000. Finally, Janney Montgomery Scott LLC grew its position in Incyte by 1.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,047 shares of the biopharmaceutical company’s stock valued at $1,868,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and increased their price target for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. UBS Group assumed coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. 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. Finally, Oppenheimer lifted their price target on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $75.71.

Incyte Stock Up 0.1 %

NASDAQ:INCY opened at $72.59 on Friday. 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 $13.98 billion, a PE ratio of 518.54, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $71.69 and a 200-day moving average of $68.43.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. Analysts predict that Incyte Co. will post 0.39 EPS for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,375 shares of company stock valued at $1,737,578 in the last ninety days. Company insiders own 17.60% of the company’s stock.

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.