Moody National Bank Trust Division Has $1.01 Million Stock Position in Incyte Co. (NASDAQ:INCY)

Moody National Bank Trust Division cut its position in Incyte Co. (NASDAQ:INCY) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,615 shares of the biopharmaceutical company’s stock after selling 937 shares during the period. Moody National Bank Trust Division’s holdings in Incyte were worth $1,009,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INCY. Haverford Trust Co increased its holdings in shares of Incyte by 1.8% during the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after acquiring an additional 135 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Incyte by 4.1% in the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 155 shares in the last quarter. Tectonic Advisors LLC grew its holdings in shares of Incyte by 1.6% during the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock valued at $819,000 after buying an additional 190 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Incyte by 4.4% in the 3rd quarter. MML Investors Services LLC now owns 6,063 shares of the biopharmaceutical company’s stock worth $401,000 after acquiring an additional 256 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in Incyte by 1.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 25,079 shares of the biopharmaceutical company’s stock valued at $1,657,000 after acquiring an additional 276 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Incyte Stock Up 2.6 %

INCY opened at $72.37 on Tuesday. The company has a 50 day moving average of $73.06 and a 200 day moving average of $67.70. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a market cap of $13.94 billion, a PE ratio of 516.97, a price-to-earnings-growth ratio of 7.90 and a beta of 0.71.

Incyte (NASDAQ:INCY) last released its quarterly earnings data 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). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, sell-side analysts expect that Incyte Co. will post 0.4 EPS for the current year.

Insider Transactions at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,023 shares of company stock valued at $839,711. 17.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Oppenheimer upped their price target on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. Guggenheim boosted their price target on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. The Goldman Sachs Group lifted their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their target price on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.29.

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.