Captrust Financial Advisors Cuts Position in Incyte Co. (NASDAQ:INCY)

Captrust Financial Advisors trimmed its position in shares of Incyte Co. (NASDAQ:INCY) by 21.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,784 shares of the biopharmaceutical company’s stock after selling 1,586 shares during the period. Captrust Financial Advisors’ holdings in Incyte were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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 in the 2nd quarter worth about $26,000. Brooklyn Investment Group bought a new stake in shares of Incyte in the 3rd quarter valued at approximately $30,000. Innealta Capital LLC bought a new position in shares of Incyte during the 2nd quarter valued at approximately $32,000. Cromwell Holdings LLC lifted its position in Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Incyte during the second quarter worth $36,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Down 3.2 %

NASDAQ:INCY opened at $68.55 on Friday. 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 stock has a market capitalization of $13.21 billion, a P/E ratio of 489.64, a P/E/G ratio of 8.36 and a beta of 0.69. The company’s 50-day simple moving average is $72.14 and its 200-day simple moving average is $66.18. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week 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 (EPS) 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%. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 earnings per share. On average, equities analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INCY has been the subject of several analyst reports. Wells Fargo & Company raised their target price 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. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. Morgan Stanley raised their price target on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Truist Financial restated a “hold” rating and issued a $74.00 price target (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.18.

Insider Buying and Selling

In other news, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. 17.60% of the stock is owned by company 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.