Incyte Co. (NASDAQ:INCY) Shares Sold by Heron Bay Capital Management

Heron Bay Capital Management decreased its holdings in Incyte Co. (NASDAQ:INCY) by 30.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,900 shares of the biopharmaceutical company’s stock after selling 6,442 shares during the quarter. Heron Bay Capital Management’s holdings in Incyte were worth $903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Incyte by 0.9% during the first quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock worth $1,294,120,000 after purchasing an additional 196,440 shares during the period. Acadian Asset Management LLC increased its stake in Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after purchasing an additional 779,243 shares in the last quarter. LSV Asset Management raised its holdings in Incyte by 0.5% during the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after buying an additional 15,115 shares during the period. Pacer Advisors Inc. lifted its stake in Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after buying an additional 2,676,851 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Incyte by 7.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,514,634 shares of the biopharmaceutical company’s stock worth $143,259,000 after buying an additional 177,852 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 1,306 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the completion of the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Barry P. Flannelly sold 1,306 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the completion of the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $3,725,715.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vijay K. Iyengar sold 15,571 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the transaction, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,047 shares of company stock valued at $2,225,626. Corporate insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on INCY shares. Guggenheim boosted their price target on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Monday, September 16th. Bank of America increased their target price on Incyte from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, September 16th. BMO Capital Markets reiterated an “underperform” rating and set a $48.00 price target (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $67.00 price objective on shares of Incyte in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.24.

Incyte Stock Performance

Shares of INCY opened at $65.74 on Friday. The firm has a market cap of $14.76 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. The company’s fifty day moving average is $64.37 and its 200-day moving average is $59.80. 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 Co. has a 12 month low of $50.27 and a 12 month high of $70.36.

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

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.