Great Valley Advisor Group Inc. Lowers Position in Incyte Co. (NASDAQ:INCY)

Great Valley Advisor Group Inc. lessened its stake in Incyte Co. (NASDAQ:INCY) by 11.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,903 shares of the biopharmaceutical company’s stock after selling 795 shares during the period. Great Valley Advisor Group Inc.’s holdings in Incyte were worth $390,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of INCY. Pacer Advisors Inc. boosted its position in Incyte by 17,460.4% in the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after purchasing an additional 2,676,851 shares in the last quarter. Mizuho Securities USA LLC boosted its position in Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after purchasing an additional 1,985,726 shares in the last quarter. AQR Capital Management LLC boosted its position in Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares in the last quarter. Acadian Asset Management LLC boosted its position in Incyte by 28.0% in the 2nd 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. Finally, Swedbank AB purchased a new stake in Incyte in the 1st quarter worth approximately $37,440,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 0.9 %

Shares of INCY opened at $75.45 on Thursday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a market capitalization of $14.54 billion, a PE ratio of 538.93, a price-to-earnings-growth ratio of 8.48 and a beta of 0.71. The stock has a fifty day simple moving average of $70.41 and a two-hundred day simple moving average of $64.92. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

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). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm’s revenue was up 23.8% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. As a group, equities analysts forecast that Incyte Co. will post 0.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Morgan Stanley upped their price objective on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their target price on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and increased their target price for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. Finally, Citigroup increased their target price on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.16.

Insider Buying and Selling

In related news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,702 shares of company stock valued at $856,166. 17.60% of the stock is currently owned by insiders.

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.