Incyte Co. (NASDAQ:INCY) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in Incyte Co. (NASDAQ:INCY) by 14.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,954 shares of the biopharmaceutical company’s stock after selling 3,333 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Incyte were worth $1,253,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. purchased a new stake in shares of Incyte during the 4th quarter worth about $25,000. Larson Financial Group LLC grew its stake in Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 422 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Incyte in the fourth quarter worth $31,000. EverSource Wealth Advisors LLC raised its stake in shares of Incyte by 597.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 635 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 544 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Incyte by 85.2% during the 4th quarter. Quadrant Capital Group LLC now owns 711 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling

In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the sale, the executive vice president now owns 66,377 shares in the company, valued at $3,982,620. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Incyte news, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the transaction, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the transaction, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at $3,982,620. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. BMO Capital Markets cut their price objective on Incyte from $56.00 to $52.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. Finally, Truist Financial restated a “buy” rating and issued a $83.00 target price (down from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.69.

Incyte Stock Performance

Shares of INCY stock opened at $63.22 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 1.34 and a beta of 0.74. Incyte Co. has a one year low of $50.27 and a one year high of $67.36. The company’s 50-day simple moving average is $56.48 and its 200-day simple moving average is $58.56.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The firm had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. Equities analysts anticipate that Incyte Co. will post 3.57 earnings per share for the current fiscal year.

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.