180 Wealth Advisors LLC Has $271,000 Stock Position in Incyte Co. (NASDAQ:INCY)

180 Wealth Advisors LLC lifted its stake in Incyte Co. (NASDAQ:INCY) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,764 shares of the biopharmaceutical company’s stock after acquiring an additional 204 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Incyte were worth $271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Incyte by 13.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,944 shares of the biopharmaceutical company’s stock worth $566,000 after purchasing an additional 1,146 shares during the period. Riverview Trust Co bought a new position in Incyte during the first quarter worth about $29,000. Gateway Investment Advisers LLC bought a new stake in shares of Incyte during the first quarter worth approximately $205,000. Washington Capital Management Inc. bought a new stake in shares of Incyte during the first quarter worth approximately $308,000. Finally, Partnership Wealth Management LLC boosted its holdings in shares of Incyte by 30.4% during the first quarter. Partnership Wealth Management LLC now owns 4,786 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 1,116 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $60.62 on Friday. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $13.61 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74. The firm’s fifty day simple moving average is $57.40 and its two-hundred day simple moving average is $58.77. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $67.36.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The firm had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. As a group, analysts predict that Incyte Co. will post 3.57 EPS for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the sale, the executive vice president now owns 66,377 shares of the company’s stock, valued at $3,982,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the transaction, the executive vice president now owns 66,377 shares of the company’s stock, valued at approximately $3,982,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 1,093 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the transaction, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. Insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $65.00 price objective on shares of Incyte in a report on Monday, March 25th. BMO Capital Markets reduced their price objective on Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a report on Wednesday, May 1st. TD Cowen cut their price target on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Bank of America cut their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Finally, Truist Financial restated a “buy” rating and set a $83.00 price objective (down from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.69.

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.