Ashton Thomas Private Wealth LLC Acquires New Holdings in Incyte Co. (NASDAQ:INCY)

Ashton Thomas Private Wealth LLC bought a new stake in Incyte Co. (NASDAQ:INCY) during the 4th quarter, Holdings Channel.com reports. The firm bought 10,381 shares of the biopharmaceutical company’s stock, valued at approximately $717,000.

Several other institutional investors have also recently bought and sold shares of the company. Haverford Trust Co lifted its stake in Incyte by 1.8% in the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after acquiring an additional 135 shares in the last quarter. Retirement Systems of Alabama lifted its stake in 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 acquiring an additional 139 shares in the last quarter. Trust Point Inc. lifted its stake in 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 acquiring an additional 156 shares in the last quarter. Mather Group LLC. lifted its stake in 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 acquiring an additional 173 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in 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 acquiring an additional 195 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on INCY. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their target price on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. UBS Group initiated 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. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Finally, Royal Bank of Canada dropped their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Incyte has a consensus rating of “Hold” and an average price target of $75.25.

Incyte Stock Up 1.0 %

INCY opened at $70.79 on Monday. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The stock’s fifty day simple moving average is $71.82 and its 200 day simple moving average is $70.20. 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 stock has a market cap of $13.70 billion, a PE ratio of 262.19, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

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

Insider Buying and Selling at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,320 shares of company stock valued at $2,072,849 in the last ninety days. 17.60% of the stock is currently owned by corporate 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.