Incyte Co. (NASDAQ:INCY) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its stake in shares of Incyte Co. (NASDAQ:INCY) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 209,703 shares of the biopharmaceutical company’s stock after selling 669 shares during the period. HighTower Advisors LLC owned approximately 0.11% of Incyte worth $13,854,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Advisors LLC acquired a new position in shares of Incyte during the first quarter valued at approximately $241,000. SG Americas Securities LLC increased its position in shares of Incyte by 54.0% during the 2nd quarter. SG Americas Securities LLC now owns 67,936 shares of the biopharmaceutical company’s stock valued at $4,118,000 after purchasing an additional 23,817 shares during the period. Gateway Investment Advisers LLC raised its stake in shares of Incyte by 19.5% in the 2nd quarter. Gateway Investment Advisers LLC now owns 4,296 shares of the biopharmaceutical company’s stock worth $260,000 after buying an additional 702 shares in the last quarter. Czech National Bank lifted its holdings in shares of Incyte by 8.5% in the second quarter. Czech National Bank now owns 35,514 shares of the biopharmaceutical company’s stock valued at $2,153,000 after buying an additional 2,790 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in Incyte by 6.9% during the second quarter. Sequoia Financial Advisors LLC now owns 4,432 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 287 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was 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 represents a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The shares were 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 owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This trade represents a 18.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,745 shares of company stock valued at $1,311,687 in the last three months. Corporate insiders own 17.60% of the company’s stock.

Incyte Stock Up 1.3 %

Incyte stock opened at $75.92 on Friday. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The firm has a market cap of $14.63 billion, a PE ratio of 542.32, a P/E/G ratio of 8.60 and a beta of 0.69. The firm’s 50 day moving average price is $71.74 and its two-hundred day moving average price is $65.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue was up 23.8% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. On average, research analysts predict that Incyte Co. will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 14th. Wells Fargo & Company boosted their target price on shares of Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial restated a “hold” rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Citigroup upped their price target on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.16.

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.