Prospera Financial Services Inc Sells 2,922 Shares of Incyte Co. (NASDAQ:INCY)

Prospera Financial Services Inc cut its position in Incyte Co. (NASDAQ:INCY) by 43.5% in the third quarter, HoldingsChannel.com reports. The firm owned 3,788 shares of the biopharmaceutical company’s stock after selling 2,922 shares during the quarter. Prospera Financial Services Inc’s holdings in Incyte were worth $250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kennedy Capital Management LLC purchased a new stake in Incyte in the 1st quarter worth $463,000. Greenwood Capital Associates LLC bought a new stake in Incyte during the 3rd quarter valued at approximately $433,000. Andra AP fonden lifted its holdings in Incyte by 35.2% in the 2nd quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock worth $15,022,000 after purchasing an additional 64,500 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Incyte by 19.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 152,452 shares of the biopharmaceutical company’s stock worth $8,652,000 after purchasing an additional 24,328 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in Incyte during the 1st quarter valued at approximately $1,040,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Up 2.5 %

Shares of INCY opened at $73.52 on Tuesday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a fifty day moving average price of $70.04 and a 200-day moving average price of $64.69. The firm has a market capitalization of $14.16 billion, a P/E ratio of 525.18, a P/E/G ratio of 8.27 and a beta of 0.71. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. Equities research analysts expect that Incyte Co. will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer boosted their price target on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.16.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. This represents a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 572 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,702 shares of company stock valued at $856,166. 17.60% of the stock is currently owned by corporate insiders.

About Incyte

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.