Janney Montgomery Scott LLC Decreases Stock Holdings in Incyte Co. (NASDAQ:INCY)

Janney Montgomery Scott LLC decreased its position in Incyte Co. (NASDAQ:INCY) by 23.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,855 shares of the biopharmaceutical company’s stock after selling 11,966 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Incyte were worth $2,271,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC increased its position in shares of Incyte by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock valued at $2,773,000 after buying an additional 187 shares during the period. 180 Wealth Advisors LLC increased its position 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. Berger Financial Group Inc increased its position in shares of Incyte by 0.4% during the fourth quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock valued at $3,797,000 after buying an additional 212 shares during the period. Allworth Financial LP increased its position in shares of Incyte by 40.0% during the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 229 shares during the period. Finally, Grandfield & Dodd LLC increased its position in shares of Incyte by 1.8% during the fourth quarter. Grandfield & Dodd LLC now owns 18,390 shares of the biopharmaceutical company’s stock valued at $1,155,000 after buying an additional 319 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 66,377 shares in the company, valued at $3,982,620. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Thomas Tray sold 1,093 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the transaction, the insider now owns 21,634 shares in the company, valued at $1,274,458.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 66,377 shares in the company, valued at approximately $3,982,620. The disclosure for this sale can be found here. Insiders have sold a total of 28,405 shares of company stock worth $1,703,109 over the last quarter. Company insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on INCY. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. TD Cowen dropped their price objective on shares of Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Oppenheimer dropped their price objective on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 price objective on shares of Incyte in a research note on Monday, March 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Incyte in a research note on Thursday, May 23rd. They set a “hold” rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and an average target price of $73.44.

Incyte Trading Up 2.2 %

Shares of NASDAQ INCY opened at $63.66 on Friday. The firm’s 50 day moving average price is $58.91 and its 200-day moving average price is $58.57. The company has a market cap of $14.29 billion, a PE ratio of 19.29, a P/E/G ratio of 1.34 and a beta of 0.73. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $67.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.31). The firm had revenue of $880.89 million during the quarter, compared to the consensus estimate of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. On average, equities research analysts expect that Incyte Co. will post 3.57 EPS 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.