American Century Companies Inc. Sells 5,051 Shares of Incyte Co. (NASDAQ:INCY)

American Century Companies Inc. reduced its position in Incyte Co. (NASDAQ:INCY) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 240,603 shares of the biopharmaceutical company’s stock after selling 5,051 shares during the quarter. American Century Companies Inc. owned approximately 0.11% of Incyte worth $14,585,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators lifted its stake in Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 164 shares during the period. Moody National Bank Trust Division lifted its position in shares of Incyte by 1.3% during the 2nd quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after acquiring an additional 179 shares during the period. Ballentine Partners LLC grew its holdings in Incyte by 4.0% in the second quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after purchasing an additional 182 shares during the period. 180 Wealth Advisors LLC increased its stake in Incyte by 4.5% in the first quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock valued at $271,000 after purchasing an additional 204 shares in the last quarter. Finally, Empirical Finance LLC raised its holdings in shares of Incyte by 3.7% during the first quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock valued at $364,000 after purchasing an additional 230 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on INCY shares. Truist Financial restated a “hold” rating and issued a $74.00 target price (down from $83.00) on shares of Incyte in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Citigroup increased their target price on Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets restated an “underperform” rating and set a $48.00 price target (down previously from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Finally, Oppenheimer lowered their price objective on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.24.

Incyte Trading Down 1.6 %

Shares of Incyte stock opened at $65.74 on Friday. The firm has a market cap of $14.76 billion, a PE ratio of 19.92, a P/E/G ratio of 5.03 and a beta of 0.73. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $70.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. The stock has a fifty day moving average price of $64.37 and a 200-day moving average price of $59.80.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Equities research analysts anticipate that Incyte Co. will post 0.67 EPS for the current year.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 1,306 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total value of $83,832.14. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at $3,725,715.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Barry P. Flannelly sold 8,148 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the transaction, the executive vice president now owns 50,534 shares in the company, valued at approximately $3,032,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 1,306 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the completion of the sale, the executive vice president now owns 58,042 shares in the company, valued at $3,725,715.98. The disclosure for this sale can be found here. Insiders sold a total of 34,047 shares of company stock worth $2,225,626 in the last quarter. Insiders own 17.50% of the company’s stock.

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.