Elo Mutual Pension Insurance Co Sells 243 Shares of Incyte Co. (NASDAQ:INCY)

Elo Mutual Pension Insurance Co reduced its holdings in Incyte Co. (NASDAQ:INCY) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,163 shares of the biopharmaceutical company’s stock after selling 243 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Incyte were worth $1,040,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Cape Investment Advisory Inc. acquired a new position in shares of Incyte in the 4th quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in Incyte in the second quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new position in Incyte in the first quarter valued at about $28,000. Riverview Trust Co bought a new position in Incyte during the first quarter worth about $29,000. Finally, Innealta Capital LLC acquired a new position in shares of Incyte during the 2nd quarter worth about $32,000. 96.97% of the stock is owned by institutional investors.

Incyte Price Performance

NASDAQ INCY opened at $65.74 on Friday. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $70.36. The firm’s 50 day moving average is $64.37 and its 200-day moving average is $59.79. The company has a market capitalization of $14.76 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results 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 business had revenue of $1.04 billion for 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 company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. Equities research analysts anticipate that Incyte Co. will post 0.67 earnings per share for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 8,148 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the transaction, the executive vice president now owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 8,148 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total value of $488,880.00. Following the transaction, the executive vice president now directly owns 50,534 shares in the company, valued at approximately $3,032,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,047 shares of company stock valued at $2,225,626. Insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. Oppenheimer reduced their price target on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. BMO Capital Markets reissued an “underperform” rating and issued a $48.00 price target (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Guggenheim raised their price objective on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their target price on Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus target price of $73.24.

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.