Fulton Bank N.A. Lowers Holdings in Incyte Co. (NASDAQ:INCY)

Fulton Bank N.A. lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,992 shares of the biopharmaceutical company’s stock after selling 558 shares during the quarter. Fulton Bank N.A.’s holdings in Incyte were worth $2,002,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in INCY. Haverford Trust Co raised its holdings in Incyte by 1.8% during the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 135 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Incyte by 4.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 155 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Incyte by 4.0% in the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock valued at $287,000 after buying an additional 182 shares during the period. Tectonic Advisors LLC boosted its stake in shares of Incyte by 1.6% in the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock valued at $819,000 after buying an additional 190 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in Incyte by 4.4% during the third quarter. MML Investors Services LLC now owns 6,063 shares of the biopharmaceutical company’s stock worth $401,000 after acquiring an additional 256 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Activity at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the transaction, the insider now owns 23,312 shares in the company, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 11,023 shares of company stock worth $839,711. 17.60% of the stock is currently owned by insiders.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $73.13 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The company has a market cap of $14.09 billion, a PE ratio of 522.39, a price-to-earnings-growth ratio of 7.90 and a beta of 0.71. The company has a 50-day simple moving average of $73.26 and a 200-day simple moving average of $67.46. Incyte Co. has a 12 month low of $50.35 and a 12 month 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 the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The company’s revenue was up 23.8% on a year-over-year basis. On average, equities analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on INCY. UBS Group initiated coverage on Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Guggenheim increased their target price on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. The Goldman Sachs Group boosted their price target on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Bank of America raised Incyte from a “neutral” rating to a “buy” rating and raised their price objective for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.29.

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.