Dumont & Blake Investment Advisors LLC Acquires New Position in Incyte Co. (NASDAQ:INCY)

Dumont & Blake Investment Advisors LLC bought a new position in Incyte Co. (NASDAQ:INCY) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 9,264 shares of the biopharmaceutical company’s stock, valued at approximately $528,000.

A number of other institutional investors have also modified their holdings of INCY. Cape Investment Advisory Inc. bought a new position in Incyte during the 4th quarter worth about $25,000. Larson Financial Group LLC boosted its stake in shares of Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 422 shares in the last quarter. Riverview Trust Co purchased a new position in Incyte during the first quarter valued at approximately $29,000. Turtle Creek Wealth Advisors LLC bought a new position in Incyte in the fourth quarter worth approximately $31,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Incyte by 597.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 635 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 544 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

NASDAQ INCY traded down $0.73 on Friday, hitting $60.62. 10,984,692 shares of the company’s stock traded hands, compared to its average volume of 5,649,308. The firm has a market capitalization of $13.61 billion, a PE ratio of 18.37, a P/E/G ratio of 1.31 and a beta of 0.74. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $67.36. The firm’s 50-day moving average price is $57.40 and its two-hundred day moving average price is $58.75. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The company had revenue of $880.89 million for the quarter, compared to analyst estimates of $935.85 million. As a group, analysts expect that Incyte Co. will post 3.57 EPS for the current year.

Insider Activity at Incyte

In related news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the transaction, the insider now owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the transaction, the executive vice president now directly owns 66,377 shares in the company, valued at $3,982,620. The disclosure for this sale can be found here. 17.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Incyte in a research report on Thursday, May 23rd. They issued a “hold” rating and a $55.00 price objective on the stock. Truist Financial reissued a “buy” rating and set a $83.00 target price (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Finally, Bank of America cut their price target on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.69.

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.