EverSource Wealth Advisors LLC Has $88,000 Stock Holdings in Incyte Co. (NASDAQ:INCY)

EverSource Wealth Advisors LLC raised its holdings in Incyte Co. (NASDAQ:INCY) by 161.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,275 shares of the biopharmaceutical company’s stock after purchasing an additional 787 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Incyte were worth $88,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Retirement Systems of Alabama boosted its holdings in shares of Incyte by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after purchasing an additional 139 shares in the last quarter. Trust Point Inc. boosted its holdings in shares of Incyte by 5.0% in the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock valued at $227,000 after purchasing an additional 156 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Incyte by 26.4% in the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 173 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Incyte by 3.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after purchasing an additional 195 shares in the last quarter. Finally, Catalyst Financial Partners LLC boosted its holdings in shares of Incyte by 2.7% in the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Stifel Nicolaus raised their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. Truist Financial cut their price objective on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday. Royal Bank of Canada cut their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 11th. Finally, Citigroup cut their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average price target of $75.13.

Incyte Stock Performance

INCY stock opened at $60.00 on Wednesday. The stock has a 50-day moving average price of $71.29 and a 200-day moving average price of $70.27. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.61 billion, a PE ratio of 222.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, equities research analysts expect that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Activity at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,914,561.36. The trade was a 35.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock valued at $3,322,618 in the last three months. Corporate insiders own 17.60% of the company’s stock.

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.