Dumont & Blake Investment Advisors LLC Trims Stock Holdings in Incyte Co. (NASDAQ:INCY)

Dumont & Blake Investment Advisors LLC reduced its position in Incyte Co. (NASDAQ:INCY) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,605 shares of the biopharmaceutical company’s stock after selling 214 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Incyte were worth $1,769,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Public Sector Pension Investment Board grew its position in shares of Incyte by 71.5% during the second quarter. Public Sector Pension Investment Board now owns 6,322 shares of the biopharmaceutical company’s stock worth $383,000 after buying an additional 2,636 shares in the last quarter. Creative Planning raised its stake in shares of Incyte by 13.4% during the second quarter. Creative Planning now owns 21,059 shares of the biopharmaceutical company’s stock worth $1,277,000 after purchasing an additional 2,496 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Incyte by 23.9% during the second quarter. NewEdge Advisors LLC now owns 23,087 shares of the biopharmaceutical company’s stock worth $1,400,000 after purchasing an additional 4,456 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Incyte by 204.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,350 shares of the biopharmaceutical company’s stock worth $567,000 after acquiring an additional 6,280 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its position in Incyte by 9.1% in the second quarter. EP Wealth Advisors LLC now owns 3,961 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 332 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INCY has been the topic of a number of analyst reports. UBS Group assumed coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. 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 note on Tuesday, October 29th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, Morgan Stanley increased their target price on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte has an average rating of “Hold” and a consensus price target of $75.71.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 650 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the sale, the insider now directly owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,375 shares of company stock worth $1,737,578. 17.60% of the stock is currently owned by company insiders.

Incyte Trading Up 0.1 %

NASDAQ:INCY opened at $73.77 on Friday. The firm has a 50-day moving average price of $71.71 and a two-hundred day moving average price of $68.71. 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 Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 526.97, a price-to-earnings-growth ratio of 0.54 and a beta of 0.71.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. On average, equities analysts expect that Incyte Co. will post 0.39 earnings per share for the current fiscal year.

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.