First Trust Direct Indexing L.P. Sells 1,086 Shares of Incyte Co. (NASDAQ:INCY)

First Trust Direct Indexing L.P. decreased its position in Incyte Co. (NASDAQ:INCY) by 3.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,882 shares of the biopharmaceutical company’s stock after selling 1,086 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Incyte were worth $1,909,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of INCY. MFA Wealth Advisors LLC bought a new position in Incyte in the second quarter valued at about $26,000. Fidelis Capital Partners LLC bought a new position in Incyte in the first quarter valued at about $32,000. Innealta Capital LLC bought a new position in Incyte in the second quarter valued at about $32,000. Itau Unibanco Holding S.A. bought a new position in Incyte in the second quarter valued at about $36,000. Finally, Deseret Mutual Benefit Administrators lifted its holdings in Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 164 shares during the period. Institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other 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 completion of the transaction, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Thomas Tray sold 572 shares of Incyte 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 owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by company insiders.

Incyte Stock Performance

NASDAQ INCY opened at $73.93 on Thursday. The stock has a market capitalization of $14.24 billion, a PE ratio of 22.40, a P/E/G ratio of 5.31 and a beta of 0.73. The business has a 50 day simple moving average of $65.58 and a two-hundred day simple moving average of $61.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $74.60.

Incyte (NASDAQ:INCY) last released its quarterly 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 firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. On average, research analysts predict that Incyte Co. will post 0.66 EPS for the current fiscal year.

Analysts Set New Price Targets

INCY has been the topic of several recent research reports. Citigroup raised their price objective on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday. BMO Capital Markets reaffirmed an “underperform” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Incyte in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Oppenheimer raised their price objective on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus price target of $76.74.

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.