Incyte Co. (NASDAQ:INCY) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC decreased its holdings in Incyte Co. (NASDAQ:INCY) by 3.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,150 shares of the biopharmaceutical company’s stock after selling 243 shares during the period. Metis Global Partners LLC’s holdings in Incyte were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Pacer Advisors Inc. raised its stake in shares of Incyte by 17,460.4% in the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after acquiring an additional 2,676,851 shares during the period. AQR Capital Management LLC raised its position in Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after purchasing an additional 1,101,041 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after purchasing an additional 779,243 shares in the last quarter. Swedbank AB purchased a new stake in shares of Incyte in the first quarter worth about $37,440,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Incyte by 122.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock valued at $54,116,000 after buying an additional 490,680 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction 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 $2,269,280.40. The trade was a 18.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction that occurred 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 $4,624,786.56. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,702 shares of company stock worth $856,166. 17.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on INCY shares. Morgan Stanley boosted their price target on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus price target of $77.16.

Incyte Stock Up 1.4 %

Shares of NASDAQ:INCY opened at $76.97 on Tuesday. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company’s fifty day moving average is $69.28 and its two-hundred day moving average is $64.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 549.79, a price-to-earnings-growth ratio of 8.75 and a beta of 0.71.

Incyte (NASDAQ:INCY) last issued its earnings results 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 negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue was up 23.8% on a year-over-year basis. Equities analysts anticipate that Incyte Co. will post 0.4 EPS for the current year.

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.