Intech Investment Management LLC Has $4.12 Million Stock Position in Incyte Co. (NASDAQ:INCY)

Intech Investment Management LLC cut its holdings in shares of Incyte Co. (NASDAQ:INCY) by 41.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,256 shares of the biopharmaceutical company’s stock after selling 43,897 shares during the quarter. Intech Investment Management LLC’s holdings in Incyte were worth $4,115,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Grandfield & Dodd LLC raised its position in shares of Incyte by 3.2% during the third quarter. Grandfield & Dodd LLC now owns 19,525 shares of the biopharmaceutical company’s stock valued at $1,291,000 after buying an additional 610 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Incyte by 2.6% during the third quarter. Advisors Asset Management Inc. now owns 15,244 shares of the biopharmaceutical company’s stock valued at $1,008,000 after acquiring an additional 386 shares during the period. Commerce Bank acquired a new position in Incyte in the 3rd quarter valued at approximately $610,000. PNC Financial Services Group Inc. lifted its position in shares of Incyte by 42.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 30,649 shares of the biopharmaceutical company’s stock worth $2,026,000 after acquiring an additional 9,083 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Incyte during the 3rd quarter worth approximately $292,000. 96.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BMO Capital Markets restated an “underperform” rating and issued a $52.00 target price (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Truist Financial reiterated a “hold” rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and increased their price target for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus price target of $77.16.

Incyte Price Performance

INCY opened at $71.72 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The company’s 50 day simple moving average is $69.90 and its 200-day simple moving average is $64.40. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The stock has a market capitalization of $13.82 billion, a P/E ratio of 512.29, a price-to-earnings-growth ratio of 8.14 and a beta of 0.71.

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

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction 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 $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. In the last three months, insiders have sold 12,702 shares of company stock worth $856,166. Company insiders own 17.60% of the company’s stock.

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.