Commonwealth Equity Services LLC Increases Stock Holdings in Incyte Co. (NASDAQ:INCY)

Commonwealth Equity Services LLC lifted its position in shares of Incyte Co. (NASDAQ:INCY) by 2.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,527 shares of the biopharmaceutical company’s stock after buying an additional 782 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Incyte were worth $2,109,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in INCY. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Incyte by 2.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 44,922 shares of the biopharmaceutical company’s stock valued at $3,072,000 after purchasing an additional 1,192 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Incyte by 21.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,085 shares of the biopharmaceutical company’s stock worth $48,631,000 after purchasing an additional 121,978 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Incyte by 5.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 7,880 shares of the biopharmaceutical company’s stock valued at $544,000 after buying an additional 380 shares in the last quarter. Essential Planning LLC. acquired a new stake in Incyte during the 4th quarter valued at $703,000. Finally, EverSource Wealth Advisors LLC increased its position in Incyte by 161.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 787 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Performance

NASDAQ:INCY opened at $60.68 on Friday. The firm’s fifty day simple moving average is $69.76 and its 200 day simple moving average is $70.05. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of 224.75, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, equities research analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares of the company’s stock, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,827 shares of company stock valued at $3,322,618. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on INCY. UBS Group initiated coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. Royal Bank of Canada lowered their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday, February 11th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Citigroup decreased their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley cut their price target on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.88.

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.