Ellis Investment Partners LLC Trims Stock Position in Incyte Co. (NASDAQ:INCY)

Ellis Investment Partners LLC lessened its position in shares of Incyte Co. (NASDAQ:INCY) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,455 shares of the biopharmaceutical company’s stock after selling 301 shares during the quarter. Ellis Investment Partners LLC’s holdings in Incyte were worth $1,344,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in INCY. Newman Dignan & Sheerar Inc. lifted its stake in Incyte by 4.0% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 5,222 shares of the biopharmaceutical company’s stock worth $361,000 after purchasing an additional 200 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Incyte by 2.7% during the fourth quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock worth $518,000 after buying an additional 200 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Incyte by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 89,284 shares of the biopharmaceutical company’s stock worth $6,181,000 after buying an additional 397 shares during the period. Van ECK Associates Corp boosted its position in shares of Incyte by 38.6% during the fourth quarter. Van ECK Associates Corp now owns 186,899 shares of the biopharmaceutical company’s stock worth $12,909,000 after buying an additional 52,018 shares during the period. Finally, Savant Capital LLC boosted its position in shares of Incyte by 304.8% during the fourth quarter. Savant Capital LLC now owns 52,792 shares of the biopharmaceutical company’s stock worth $3,646,000 after buying an additional 39,749 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on INCY. The Goldman Sachs Group raised their price target on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Citigroup decreased their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Finally, Morgan Stanley lifted their target price on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte has an average rating of “Hold” and a consensus target price of $75.59.

Insider Transactions at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated 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 in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the sale, the insider now owns 23,312 shares in the company, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,695 shares of company stock worth $1,444,356. Corporate insiders own 17.60% of the company’s stock.

Incyte Stock Up 0.6 %

INCY opened at $70.42 on Friday. The business’s 50-day simple moving average is $71.26 and its 200-day simple moving average is $69.18. 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 Co. has a one year low of $50.35 and a one year high of $83.95. The stock has a market capitalization of $13.63 billion, a P/E ratio of 503.04, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Analysts anticipate that Incyte Co. will post 0.35 EPS 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.