CreativeOne Wealth LLC Purchases 1,902 Shares of Incyte Co. (NASDAQ:INCY)

CreativeOne Wealth LLC raised its position in shares of Incyte Co. (NASDAQ:INCY) by 27.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,817 shares of the biopharmaceutical company’s stock after purchasing an additional 1,902 shares during the quarter. CreativeOne Wealth LLC’s holdings in Incyte were worth $609,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in INCY. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte during the fourth quarter worth about $26,000. Global X Japan Co. Ltd. raised its position in Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. R Squared Ltd purchased a new stake in Incyte in the 4th quarter worth approximately $30,000. Blue Trust Inc. lifted its holdings in Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 329 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Incyte in the 4th quarter worth approximately $42,000. Institutional investors own 96.97% of the company’s stock.

Insider Activity

In other news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock valued at $3,322,618 in the last ninety days. 17.60% of the stock is currently owned by company insiders.

Incyte Trading Up 0.8 %

Incyte stock opened at $58.21 on Friday. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The business’s fifty day moving average is $64.84 and its 200 day moving average is $69.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The stock has a market capitalization of $11.27 billion, a PE ratio of 215.60, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, sell-side analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of research analyst reports. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley dropped their target price on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, March 24th. Royal Bank of Canada reduced their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 11th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, William Blair lowered Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.88.

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.