Incyte Co. (NASDAQ:INCY) Shares Sold by Fmr LLC

Fmr LLC lessened its stake in shares of Incyte Co. (NASDAQ:INCY) by 26.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,320,469 shares of the biopharmaceutical company’s stock after selling 466,939 shares during the period. Fmr LLC owned approximately 0.69% of Incyte worth $87,283,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of INCY. Cetera Advisors LLC acquired a new position in shares of Incyte in the 1st quarter valued at $241,000. Mather Group LLC. raised its stake in shares of Incyte by 154.7% in the second quarter. Mather Group LLC. now owns 2,188 shares of the biopharmaceutical company’s stock worth $125,000 after purchasing an additional 1,329 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Incyte in the second quarter worth about $283,000. CX Institutional acquired a new stake in shares of Incyte during the second quarter worth about $206,000. Finally, SG Americas Securities LLC boosted its position in Incyte by 54.0% in the second quarter. SG Americas Securities LLC now owns 67,936 shares of the biopharmaceutical company’s stock valued at $4,118,000 after buying an additional 23,817 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Thomas Tray sold 572 shares of the 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 sale, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,745 shares of company stock valued at $1,311,687. Insiders own 17.60% of the company’s stock.

Incyte Stock Up 0.4 %

Shares of INCY opened at $74.92 on Friday. The stock has a 50 day moving average price of $71.53 and a 200 day moving average price of $65.57. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. 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 stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 535.18, a PEG ratio of 8.30 and a beta of 0.69.

Incyte (NASDAQ:INCY) last posted 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). The business had revenue of $1.14 billion during 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 business’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. Equities research analysts forecast that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on INCY shares. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. Truist Financial restated a “hold” rating and issued a $74.00 target price (down previously from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Wells Fargo & Company lifted their price target on Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.16.

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.