IFM Investors Pty Ltd Sells 2,226 Shares of Incyte Co. (NASDAQ:INCY)

IFM Investors Pty Ltd lessened its stake in shares of Incyte Co. (NASDAQ:INCY) by 5.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,744 shares of the biopharmaceutical company’s stock after selling 2,226 shares during the period. IFM Investors Pty Ltd’s holdings in Incyte were worth $2,429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MFA Wealth Advisors LLC bought a new stake in shares of Incyte during the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Incyte during the first quarter valued at approximately $28,000. Fidelis Capital Partners LLC bought a new stake in shares of Incyte during the first quarter valued at approximately $32,000. Innealta Capital LLC bought a new stake in shares of Incyte during the second quarter valued at approximately $32,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Incyte during the second quarter valued at approximately $36,000. Institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Bank of America boosted their price objective on shares of Incyte from $66.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Wells Fargo & Company reduced their price objective on shares of Incyte from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Incyte has an average rating of “Hold” and a consensus target price of $73.42.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.60% of the stock is owned by corporate insiders.

Incyte Price Performance

Shares of INCY opened at $65.07 on Monday. The firm has a market capitalization of $12.53 billion, a PE ratio of 180.75, a price-to-earnings-growth ratio of 5.31 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $70.36. The company’s fifty day moving average price is $65.15 and its 200-day moving average price is $61.30.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data 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 company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. Incyte’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. On average, equities research analysts predict that Incyte Co. will post 0.66 EPS for the current 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.