Elo Mutual Pension Insurance Co Sells 243 Shares of Incyte Co. (NASDAQ:INCY)

Elo Mutual Pension Insurance Co decreased its stake in shares of Incyte Co. (NASDAQ:INCY) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,163 shares of the biopharmaceutical company’s stock after selling 243 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Incyte were worth $1,040,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new stake in Incyte during the fourth quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in Incyte during the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Incyte in the 1st quarter valued at $28,000. Riverview Trust Co bought a new position in Incyte during the 1st quarter worth $29,000. Finally, Innealta Capital LLC acquired a new stake in shares of Incyte during the second quarter worth $32,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Down 1.6 %

Shares of NASDAQ:INCY opened at $65.74 on Friday. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $70.36. The company has a market capitalization of $14.76 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92. The company has a fifty day moving average of $64.37 and a 200-day moving average of $59.79.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. Incyte’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. On average, equities analysts predict that Incyte Co. will post 0.67 EPS for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 1,306 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the completion of the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $3,725,715.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Incyte news, EVP Barry P. Flannelly sold 1,306 shares of Incyte stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $3,725,715.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 572 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. The disclosure for this sale can be found here. Insiders sold a total of 34,047 shares of company stock worth $2,225,626 in the last quarter. 17.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Bank of America boosted their price target on Incyte from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Royal Bank of Canada restated a “sector perform” rating and set a $67.00 price objective on shares of Incyte in a research note on Tuesday, September 3rd. Finally, Truist Financial reiterated a “hold” rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.24.

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.