Blair William & Co. IL Sells 14,445 Shares of Incyte Co. (NASDAQ:INCY)

Blair William & Co. IL lowered its stake in shares of Incyte Co. (NASDAQ:INCY) by 40.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,629 shares of the biopharmaceutical company’s stock after selling 14,445 shares during the quarter. Blair William & Co. IL’s holdings in Incyte were worth $1,311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of Incyte by 48.8% in the 4th quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock valued at $8,266,000 after acquiring an additional 43,160 shares during the last quarter. Fulton Bank N.A. bought a new stake in shares of Incyte in the 1st quarter valued at approximately $1,425,000. FORVIS Wealth Advisors LLC purchased a new position in shares of Incyte in the 1st quarter worth approximately $1,495,000. ProShare Advisors LLC boosted its holdings in shares of Incyte by 14.4% in the 1st quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock worth $3,594,000 after purchasing an additional 7,925 shares during the period. Finally, Kennedy Capital Management LLC bought a new position in shares of Incyte during the 1st quarter valued at approximately $463,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Price Performance

NASDAQ:INCY opened at $64.12 on Tuesday. Incyte Co. has a one year low of $50.27 and a one year high of $70.36. 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 stock has a 50 day moving average price of $64.36 and a 200 day moving average price of $59.84. The stock has a market cap of $14.40 billion, a PE ratio of 19.43, a P/E/G ratio of 5.03 and a beta of 0.73.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. Equities research analysts expect that Incyte Co. will post 0.67 EPS for the current fiscal year.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 1,306 shares of the firm’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 sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 1,306 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total value of $83,832.14. Following the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,047 shares of company stock worth $2,225,626. Corporate insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on shares of Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Guggenheim upped their target price on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Oppenheimer dropped their price objective on Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Incyte has an average rating of “Hold” and an average target price of $73.24.

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.