Ashton Thomas Private Wealth LLC Acquires Shares of 10,381 Incyte Co. (NASDAQ:INCY)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,381 shares of the biopharmaceutical company’s stock, valued at approximately $717,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Haverford Trust Co lifted its holdings in shares of Incyte by 1.8% during the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after acquiring an additional 135 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Incyte by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after acquiring an additional 139 shares during the period. Trust Point Inc. lifted its holdings in shares of Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock valued at $227,000 after acquiring an additional 156 shares during the period. Mather Group LLC. lifted its holdings in shares of Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 173 shares during the period. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Incyte by 3.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after acquiring an additional 195 shares during the period. 96.97% of the stock is owned by institutional investors.

Incyte Price Performance

Incyte stock opened at $70.79 on Monday. The firm has a market capitalization of $13.70 billion, a P/E ratio of 262.19, a PEG ratio of 0.41 and a beta of 0.76. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The business has a 50-day moving average of $71.82 and a 200-day moving average of $70.20. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

Insider Transactions at Incyte

In other news, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,320 shares of company stock worth $2,072,849. 17.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INCY. UBS Group assumed coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Friday, December 13th. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus lifted their price target on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Incyte presently has an average rating of “Hold” and an average price target of $75.25.

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.