Dakota Wealth Management Acquires Shares of 17,528 Incyte Co. (NASDAQ:INCY)

Dakota Wealth Management acquired a new stake in shares of Incyte Co. (NASDAQ:INCY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,528 shares of the biopharmaceutical company’s stock, valued at approximately $1,063,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INCY. Cape Investment Advisory Inc. purchased a new position in shares of Incyte during the 4th quarter worth approximately $25,000. Larson Financial Group LLC raised its stake in shares of Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 422 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Incyte during the 1st quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in shares of Incyte in the 1st quarter worth approximately $29,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Incyte in the 1st quarter worth approximately $32,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 1,093 shares of Incyte stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the sale, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the sale, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the sale, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. Insiders sold a total of 45,282 shares of company stock worth $2,876,911 over the last ninety days. Company insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INCY. Bank of America increased their target price on Incyte from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. BMO Capital Markets restated an “underperform” rating and set a $48.00 price objective (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Oppenheimer cut their target price on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft increased their target price on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, TD Cowen cut their target price on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Incyte has a consensus rating of “Hold” and a consensus price target of $73.29.

Incyte Stock Up 2.0 %

NASDAQ:INCY traded up $1.25 during mid-day trading on Tuesday, reaching $64.51. The stock had a trading volume of 487,129 shares, compared to its average volume of 2,496,209. The company has a market capitalization of $14.49 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $70.36. The stock’s 50 day simple moving average is $62.64 and its two-hundred day simple moving average is $58.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 3.43.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. Equities analysts anticipate that Incyte Co. will post 3.35 EPS for the current 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.