Quest Partners LLC Decreases Stock Position in Incyte Co. (NASDAQ:INCY)

Quest Partners LLC decreased its position in shares of Incyte Co. (NASDAQ:INCY) by 67.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,284 shares of the biopharmaceutical company’s stock after selling 4,645 shares during the period. Quest Partners LLC’s holdings in Incyte were worth $151,000 at the end of the most recent reporting period.

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

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the 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 owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This trade represents a 18.84 % 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. Corporate insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Tuesday, November 19th. Wolfe Research initiated coverage on Incyte in a report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.16.

Incyte Price Performance

Shares of NASDAQ INCY opened at $75.45 on Friday. The firm’s 50-day simple moving average is $70.58 and its 200 day simple moving average is $64.99. The stock has a market cap of $14.54 billion, a P/E ratio of 538.93, a P/E/G ratio of 8.48 and a beta of 0.71. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY) last issued 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 company had revenue of $1.14 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Equities analysts expect that Incyte Co. will post 0.4 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.