Victory Capital Management Inc. Has $7.10 Million Stake in Incyte Co. (NASDAQ:INCY)

Victory Capital Management Inc. reduced its stake in Incyte Co. (NASDAQ:INCY) by 57.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 107,456 shares of the biopharmaceutical company’s stock after selling 144,324 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Incyte worth $7,103,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in INCY. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte during the 2nd quarter worth approximately $26,000. Innealta Capital LLC bought a new stake in Incyte in the 2nd quarter valued at $32,000. Cromwell Holdings LLC raised its stake in shares of Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 283 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Incyte in the 2nd quarter valued at $36,000. Finally, Deseret Mutual Benefit Administrators lifted its holdings in shares of Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 164 shares during the period. Institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and boosted their price target for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. Guggenheim upped their price objective on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. BMO Capital Markets reissued an “underperform” rating and set a $52.00 price target (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Tuesday. Finally, StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.16.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,702 shares of company stock worth $856,166. Corporate insiders own 17.60% of the company’s stock.

Incyte Trading Down 0.8 %

Shares of INCY stock opened at $70.45 on Friday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a 50 day moving average price of $69.73 and a two-hundred day moving average price of $64.28. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $13.57 billion, a PE ratio of 503.25, a price-to-earnings-growth ratio of 8.14 and a beta of 0.71.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. As a group, analysts predict that Incyte Co. will post 0.4 earnings per share for the current year.

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.