14,695 Shares in Incyte Co. (NASDAQ:INCY) Bought by Cypress Capital Group

Cypress Capital Group acquired a new position in shares of Incyte Co. (NASDAQ:INCY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,695 shares of the biopharmaceutical company’s stock, valued at approximately $971,000.

A number of other institutional investors and hedge funds have also bought and sold shares of INCY. Kennedy Capital Management LLC bought a new position in Incyte in the first quarter worth approximately $463,000. Magnetar Financial LLC bought a new stake in Incyte during the first quarter worth about $1,817,000. Greenwood Capital Associates LLC bought a new stake in Incyte during the third quarter worth about $433,000. Andra AP fonden increased its holdings in shares of Incyte by 35.2% in the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock worth $15,022,000 after buying an additional 64,500 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in Incyte by 19.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 152,452 shares of the biopharmaceutical company’s stock valued at $8,652,000 after purchasing an additional 24,328 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Activity

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred on 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 of the company’s stock, valued at $2,269,280.40. The trade was a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 572 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,702 shares of company stock valued at $856,166. 17.60% of the stock is owned by insiders.

Incyte Price Performance

NASDAQ INCY opened at $70.45 on Friday. The company 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. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The stock 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 results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. As a group, equities analysts predict that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, November 14th. Wells Fargo & Company raised their target price on Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Guggenheim raised their target price on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Truist Financial reissued a “hold” rating and set a $74.00 price target (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group raised their price target on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.16.

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.