Crossmark Global Holdings Inc. Decreases Stock Position in Incyte Co. (NASDAQ:INCY)

Crossmark Global Holdings Inc. lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 11.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,803 shares of the biopharmaceutical company’s stock after selling 3,176 shares during the period. Crossmark Global Holdings Inc.’s holdings in Incyte were worth $1,504,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Moody National Bank Trust Division boosted its holdings in Incyte by 1.3% in the second quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 179 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Incyte by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock worth $2,773,000 after buying an additional 187 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in Incyte by 4.5% in the first quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock valued at $271,000 after acquiring an additional 204 shares in the last quarter. Berger Financial Group Inc raised its holdings in Incyte by 0.4% in the fourth quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock valued at $3,797,000 after acquiring an additional 212 shares in the last quarter. Finally, Empirical Finance LLC grew its holdings in Incyte by 3.7% during the 1st quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock worth $364,000 after acquiring an additional 230 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on INCY. Deutsche Bank Aktiengesellschaft increased their target price on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Bank of America lifted their price objective on shares of Incyte from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Oppenheimer dropped their target price on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Incyte from $66.00 to $67.00 and gave the company a “sector perform” rating in a report on Thursday, August 15th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Incyte has an average rating of “Hold” and a consensus target price of $73.29.

Incyte Stock Down 0.4 %

NASDAQ INCY opened at $65.66 on Friday. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36. The company has a market capitalization of $14.74 billion, a P/E ratio of 19.90, a PEG ratio of 1.14 and a beta of 0.73. The company’s 50 day simple moving average is $63.21 and its 200 day simple moving average is $59.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 3.43.

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). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that Incyte Co. will post 3.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Barry P. Flannelly sold 19,164 shares of the 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 transaction, the executive vice president now owns 66,377 shares in the company, valued at approximately $3,982,620. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the sale, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The disclosure for this sale can be found here. Insiders have sold a total of 45,282 shares of company stock valued at $2,876,911 in the last 90 days. 17.50% of the stock is currently owned by corporate insiders.

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.