Inspire Investing LLC Sells 7,991 Shares of Incyte Co. (NASDAQ:INCY)

Inspire Investing LLC lessened its position in Incyte Co. (NASDAQ:INCY) by 24.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,113 shares of the biopharmaceutical company’s stock after selling 7,991 shares during the quarter. Inspire Investing LLC’s holdings in Incyte were worth $1,522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in INCY. Cape Investment Advisory Inc. bought a new position in Incyte in the fourth quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Incyte in the 2nd quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Incyte in the 1st quarter worth about $28,000. Riverview Trust Co purchased a new position in Incyte during the 1st quarter valued at about $29,000. Finally, Fidelis Capital Partners LLC purchased a new position in Incyte during the 1st quarter valued at about $32,000. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Incyte

In other news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. 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 three months. 17.50% of the stock is currently owned by company insiders.

Incyte Trading Up 2.5 %

NASDAQ:INCY opened at $66.82 on Friday. The company has a market cap of $15.00 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The company has a 50 day simple moving average of $64.32 and a two-hundred day simple moving average of $59.75. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on INCY shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. William Blair restated an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Citigroup lifted their price objective on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Guggenheim boosted their target price on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday. Finally, BMO Capital Markets restated an “underperform” rating and set a $48.00 price target (down from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.24.

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.