Venturi Wealth Management LLC Invests $65,000 in Incyte Co. (NASDAQ:INCY)

Venturi Wealth Management LLC purchased a new stake in Incyte Co. (NASDAQ:INCY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 988 shares of the biopharmaceutical company’s stock, valued at approximately $65,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crossmark Global Holdings Inc. increased its holdings in Incyte by 1.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 25,079 shares of the biopharmaceutical company’s stock worth $1,657,000 after acquiring an additional 276 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Incyte during the 3rd quarter valued at $45,000. JB Capital LLC increased its holdings in shares of Incyte by 2.5% in the third quarter. JB Capital LLC now owns 46,628 shares of the biopharmaceutical company’s stock worth $3,082,000 after purchasing an additional 1,150 shares during the period. Greenwood Capital Associates LLC purchased a new stake in shares of Incyte in the third quarter worth $433,000. Finally, Forum Financial Management LP bought a new stake in Incyte during the third quarter valued at $232,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Down 2.4 %

INCY stock opened at $75.87 on Friday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a market capitalization of $14.62 billion, a price-to-earnings ratio of 541.97, a price-to-earnings-growth ratio of 9.28 and a beta of 0.71. The business’s 50 day moving average price is $68.70 and its two-hundred day moving average price is $63.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Monday, September 16th. Royal Bank of Canada raised their target price on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday. The Goldman Sachs Group boosted their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Finally, Citigroup lifted their price objective on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.16.

Insider Activity at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction dated 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 directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 18.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,702 shares of company stock valued at $856,166 in the last three months. Company insiders own 17.60% of the company’s stock.

Incyte 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.