Victory Capital Management Inc. Has $7.10 Million Stake in Incyte Co. (NASDAQ:INCY)

Victory Capital Management Inc. cut its holdings in Incyte Co. (NASDAQ:INCY) by 57.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 107,456 shares of the biopharmaceutical company’s stock after selling 144,324 shares during the period. Victory Capital Management Inc.’s holdings in Incyte were worth $7,103,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. MFA Wealth Advisors LLC bought a new stake in Incyte in the 2nd quarter valued at about $26,000. Innealta Capital LLC acquired a new stake in Incyte in the second quarter valued at approximately $32,000. Itau Unibanco Holding S.A. bought a new stake in shares of Incyte during the second quarter valued at approximately $36,000. Deseret Mutual Benefit Administrators raised its position in shares of Incyte by 37.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 164 shares during the period. Finally, Cromwell Holdings LLC lifted its holdings in shares of Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Activity

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock valued at $856,166 over the last quarter. Company insiders own 17.60% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ INCY opened at $70.45 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $69.73 and a two-hundred day simple moving average of $64.28. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The firm has a market cap of $13.57 billion, a price-to-earnings ratio of 503.25, a price-to-earnings-growth ratio of 8.14 and a beta of 0.71.

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. BMO Capital Markets reiterated an “underperform” rating and set a $52.00 price target (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Truist Financial reissued a “hold” rating and issued a $74.00 price objective (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Finally, Citigroup upped their price target on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $77.16.

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.