Bank of Montreal Can Sells 23,150 Shares of Incyte Co. (NASDAQ:INCY)

Bank of Montreal Can lessened its stake in shares of Incyte Co. (NASDAQ:INCY) by 10.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,736 shares of the biopharmaceutical company’s stock after selling 23,150 shares during the period. Bank of Montreal Can owned 0.10% of Incyte worth $12,819,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of INCY. Haverford Trust Co boosted its stake in Incyte by 1.8% during the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after purchasing an additional 135 shares during the period. V Square Quantitative Management LLC boosted its position in shares of Incyte by 4.1% in the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 155 shares during the period. Deseret Mutual Benefit Administrators grew its stake in shares of Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 164 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of 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 acquiring an additional 182 shares during the last quarter. Finally, Tectonic Advisors LLC increased its position in Incyte by 1.6% during the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after acquiring an additional 190 shares during the period. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Down 1.1 %

Shares of INCY opened at $74.59 on Monday. 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 company has a market cap of $14.37 billion, a price-to-earnings ratio of 532.82, a PEG ratio of 8.60 and a beta of 0.71. The stock has a fifty day moving average price of $70.76 and a two-hundred day moving average price of $65.22. Incyte Co. has a 52-week low of $50.35 and a 52-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 analysts’ consensus estimates 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 the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. Analysts predict that Incyte Co. will post 0.4 EPS for the current fiscal year.

Analyst Ratings Changes

INCY has been the topic of several research analyst reports. Guggenheim raised their price target on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. William Blair restated an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Wells Fargo & Company raised their price objective on Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte has an average rating of “Hold” and a consensus target price of $77.16.

Insider Transactions at Incyte

In related news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,702 shares of company stock worth $856,166. Corporate insiders own 17.60% of the company’s stock.

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.