NewEdge Advisors LLC Raises Stake in Incyte Co. (NASDAQ:INCY)

NewEdge Advisors LLC lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 23.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,087 shares of the biopharmaceutical company’s stock after acquiring an additional 4,456 shares during the period. NewEdge Advisors LLC’s holdings in Incyte were worth $1,400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. raised 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 worth $163,200,000 after purchasing an additional 2,676,851 shares during the period. AQR Capital Management LLC raised its position in shares of Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after buying an additional 1,101,041 shares during the period. Acadian Asset Management LLC lifted its holdings in Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after acquiring an additional 779,243 shares during the last quarter. Swedbank AB purchased a new position in Incyte in the first quarter worth approximately $37,440,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Incyte by 122.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock worth $54,116,000 after acquiring an additional 490,680 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on INCY shares. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Monday, September 16th. Bank of America lifted their price target on shares of Incyte from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. upped their price objective on shares of Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Oppenheimer dropped their target price on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus price target of $73.83.

Insider Activity

In related news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,047 shares of company stock worth $2,225,626. 17.50% of the stock is currently owned by insiders.

Incyte Stock Up 0.7 %

Shares of Incyte stock opened at $67.49 on Friday. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $70.36. The company has a 50 day moving average of $64.33 and a 200 day moving average of $60.28. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $15.15 billion, a P/E ratio of 20.45, a P/E/G ratio of 5.17 and a beta of 0.73.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. As a group, research analysts forecast that Incyte Co. will post 0.66 EPS for the current fiscal year.

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.