Dumont & Blake Investment Advisors LLC Sells 25,529 Shares of Incyte Co. (NASDAQ:INCY)

Dumont & Blake Investment Advisors LLC lessened its holdings in shares of Incyte Co. (NASDAQ:INCY) by 49.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 25,819 shares of the biopharmaceutical company’s stock after selling 25,529 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Incyte were worth $1,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of Incyte by 48.8% during the fourth quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock worth $8,266,000 after acquiring an additional 43,160 shares during the last quarter. Gateway Investment Advisers LLC purchased a new stake in Incyte in the 1st quarter worth about $205,000. Wealth Enhancement Advisory Services LLC increased its stake in Incyte by 13.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,944 shares of the biopharmaceutical company’s stock worth $566,000 after buying an additional 1,146 shares during the period. 180 Wealth Advisors LLC increased its stake in shares of Incyte by 4.5% during the first quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock valued at $271,000 after buying an additional 204 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Incyte by 43.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 24,216 shares of the biopharmaceutical company’s stock worth $1,380,000 after purchasing an additional 7,326 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 0.1 %

INCY stock traded down $0.06 during trading on Friday, reaching $65.18. 23,753 shares of the stock were exchanged, compared to its average volume of 2,321,583. The firm has a market cap of $14.64 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 5.30 and a beta of 0.73. The firm’s 50 day moving average is $65.02 and its 200 day moving average is $61.11. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $70.36.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts forecast that Incyte Co. will post 0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on INCY shares. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Truist Financial restated a “hold” rating and set a $74.00 price objective (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price target on Incyte from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup boosted their price target on shares of Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.42.

Insider Activity

In related news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now owns 24,825 shares in the company, valued at $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the sale, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.50% of the stock is owned by corporate insiders.

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.