Grandfield & Dodd LLC Boosts Stock Position in Incyte Co. (NASDAQ:INCY)

Grandfield & Dodd LLC raised its holdings in shares of Incyte Co. (NASDAQ:INCY) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,525 shares of the biopharmaceutical company’s stock after purchasing an additional 610 shares during the quarter. Grandfield & Dodd LLC’s holdings in Incyte were worth $1,291,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MFA Wealth Advisors LLC bought a new stake in Incyte during the 2nd quarter valued at about $26,000. Innealta Capital LLC purchased a new stake in shares of Incyte in the second quarter valued at approximately $32,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Incyte in the second quarter valued at approximately $36,000. Deseret Mutual Benefit Administrators grew its stake in Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 164 shares in the last quarter. Finally, Cromwell Holdings LLC increased its holdings in Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Tuesday. Royal Bank of Canada increased their price objective on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, November 14th. Finally, Guggenheim boosted their price objective on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.16.

Insider Buying and Selling

In other news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This represents a 18.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,702 shares of company stock worth $856,166 in the last 90 days. Insiders own 17.60% of the company’s stock.

Incyte Stock Performance

INCY opened at $70.56 on Wednesday. The firm’s 50-day moving average price is $69.43 and its 200-day moving average price is $64.19. The company has a market cap of $13.59 billion, a P/E ratio of 504.04, a price-to-earnings-growth ratio of 8.75 and a beta of 0.71. 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 52-week low of $50.35 and a 52-week high of $83.95.

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

About Incyte

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.