Incyte Co. (NASDAQ:INCY) Holdings Decreased by Metis Global Partners LLC

Metis Global Partners LLC lessened its stake in Incyte Co. (NASDAQ:INCY) by 3.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,150 shares of the biopharmaceutical company’s stock after selling 243 shares during the quarter. Metis Global Partners LLC’s holdings in Incyte were worth $473,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Haverford Trust Co boosted its holdings in shares of Incyte by 1.8% in the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after acquiring an additional 135 shares in the last quarter. GSA Capital Partners LLP lifted its position in Incyte by 26.5% in the third quarter. GSA Capital Partners LLP now owns 6,453 shares of the biopharmaceutical company’s stock worth $427,000 after purchasing an additional 1,351 shares during the period. Venturi Wealth Management LLC bought a new position in Incyte during the 3rd quarter valued at $65,000. Crossmark Global Holdings Inc. increased its position in shares of Incyte by 1.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 25,079 shares of the biopharmaceutical company’s stock valued at $1,657,000 after purchasing an additional 276 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Incyte during the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on INCY. The Goldman Sachs Group upped their price target on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Truist Financial restated a “hold” rating and issued a $74.00 target price (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Royal Bank of Canada upped their target price on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. Finally, Wells Fargo & Company upped their price objective on shares of Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average price target of $77.16.

Insiders Place Their Bets

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred 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 transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This trade represents a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,702 shares of company stock valued at $856,166 over the last quarter. Insiders own 17.60% of the company’s stock.

Incyte Price Performance

Shares of INCY opened at $76.97 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The firm has a market cap of $14.83 billion, a PE ratio of 549.79, a PEG ratio of 8.75 and a beta of 0.71. The firm’s 50 day moving average price is $69.28 and its 200 day moving average price is $64.07. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. As a group, research analysts expect that Incyte Co. will post 0.4 EPS for the current fiscal year.

Incyte 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.