HighTower Advisors LLC Sells 516 Shares of Incyte Co. (NASDAQ:INCY)

HighTower Advisors LLC lowered its holdings in shares of Incyte Co. (NASDAQ:INCY) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,187 shares of the biopharmaceutical company’s stock after selling 516 shares during the quarter. HighTower Advisors LLC owned approximately 0.11% of Incyte worth $14,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte during the 4th quarter valued at about $26,000. Global X Japan Co. Ltd. increased its position in shares of Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Incyte during the 3rd quarter valued at about $30,000. R Squared Ltd purchased a new stake in Incyte in the 4th quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling

In related news, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. This trade represents a 35.25 % 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. Also, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,020 shares of company stock worth $1,981,882 over the last three months. 17.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on INCY shares. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Wells Fargo & Company increased their target price on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. UBS Group started coverage on shares of Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price for the company. Royal Bank of Canada reduced their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday, February 11th. Finally, Stifel Nicolaus increased their target price on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $75.25.

Incyte Stock Up 0.2 %

NASDAQ INCY opened at $67.86 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The company has a market capitalization of $13.13 billion, a P/E ratio of 251.34, a P/E/G ratio of 0.41 and a beta of 0.76. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The stock has a 50 day moving average price of $71.75 and a 200-day moving average price of $70.34.

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

About Incyte

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.