Cerity Partners LLC Grows Stock Holdings in Incyte Co. (NASDAQ:INCY)

Cerity Partners LLC boosted its position in Incyte Co. (NASDAQ:INCY) by 40.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,157 shares of the biopharmaceutical company’s stock after purchasing an additional 5,537 shares during the period. Cerity Partners LLC’s holdings in Incyte were worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Incyte by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after acquiring an additional 364,169 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Incyte in the third quarter valued at about $4,739,000. Cypress Capital Group purchased a new stake in shares of Incyte during the third quarter worth about $971,000. Grandfield & Dodd LLC grew its stake in shares of Incyte by 3.2% during the third quarter. Grandfield & Dodd LLC now owns 19,525 shares of the biopharmaceutical company’s stock worth $1,291,000 after acquiring an additional 610 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Incyte by 2.6% during the third quarter. Advisors Asset Management Inc. now owns 15,244 shares of the biopharmaceutical company’s stock worth $1,008,000 after acquiring an additional 386 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Incyte

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,745 shares of company stock worth $1,311,687. 17.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on INCY shares. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. Wells Fargo & Company upped their target price on Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. Guggenheim upped their target price on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Truist Financial reiterated a “hold” rating and set a $74.00 price target (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.16.

Incyte Price Performance

Shares of NASDAQ INCY opened at $72.03 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The firm has a market capitalization of $13.88 billion, a PE ratio of 514.54, a price-to-earnings-growth ratio of 8.44 and a beta of 0.69. The stock’s 50-day simple moving average is $71.11 and its 200-day simple moving average is $65.44.

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). The firm had revenue of $1.14 billion for 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%. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. As a group, equities research analysts forecast that Incyte Co. will post 0.4 EPS for the current fiscal year.

Incyte 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.