GS Investments Inc. Sells 10,000 Shares of Incyte Corporation (NASDAQ:INCY)

GS Investments Inc. lessened its holdings in Incyte Corporation (NASDAQ:INCY) by 50.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the biopharmaceutical company’s stock after selling 10,000 shares during the quarter. GS Investments Inc.’s holdings in Incyte were worth $606,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Raiffeisen Bank International AG acquired a new stake in shares of Incyte in the 4th quarter valued at approximately $34,000. NBC Securities Inc. raised its position in shares of Incyte by 88,200.0% in the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 882 shares during the period. Huntington National Bank raised its position in shares of Incyte by 40.7% in the 4th quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 270 shares during the period. Intact Investment Management Inc. acquired a new stake in Incyte during the 1st quarter worth approximately $73,000. Finally, Farther Finance Advisors LLC lifted its stake in Incyte by 474.1% in the first quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,280 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on shares of Incyte from $68.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, July 14th. Royal Bank Of Canada set a $67.00 price objective on shares of Incyte and gave the stock a “sector perform” rating in a research report on Monday, June 23rd. Stifel Nicolaus raised shares of Incyte from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $107.00 in a research report on Monday, June 16th. Finally, Truist Financial lifted their price objective on shares of Incyte from $72.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.47.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 10,903 shares of Incyte stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total transaction of $743,039.45. Following the completion of the transaction, the executive vice president directly owned 39,744 shares of the company’s stock, valued at $2,708,553.60. The trade was a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total transaction of $41,097.39. Following the transaction, the executive vice president directly owned 26,504 shares of the company’s stock, valued at approximately $1,818,439.44. This trade represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,098 shares of company stock valued at $3,836,196. 17.80% of the stock is owned by company insiders.

Incyte Trading Up 10.3%

INCY stock opened at $77.38 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00. The company has a fifty day moving average price of $68.26 and a two-hundred day moving average price of $66.59. Incyte Corporation has a one year low of $53.56 and a one year high of $83.95. The stock has a market cap of $14.98 billion, a price-to-earnings ratio of 241.82, a price-to-earnings-growth ratio of 0.59 and a beta of 0.68.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $996.17 million. During the same period in the previous year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts anticipate that Incyte Corporation will post 4.86 EPS for the current 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.