Incyte Co. (NASDAQ:INCY) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its holdings in shares of Incyte Co. (NASDAQ:INCYFree Report) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,800 shares of the biopharmaceutical company’s stock after selling 1,200 shares during the period. Gabelli Funds LLC’s holdings in Incyte were worth $929,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. bought a new position in shares of Incyte in the fourth quarter valued at $25,000. Larson Financial Group LLC raised its position in shares of Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 422 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Incyte during the fourth quarter worth $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Incyte by 597.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 635 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 544 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Incyte by 85.2% in the 4th quarter. Quadrant Capital Group LLC now owns 711 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 327 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Insider Activity at Incyte

In other Incyte news, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the transaction, the insider now owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on INCY. Citigroup reduced their price objective on shares of Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. BMO Capital Markets reduced their price target on shares of Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research report on Wednesday, May 1st. JMP Securities cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $65.00 target price on shares of Incyte in a report on Monday, March 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Incyte in a report on Thursday, May 23rd. They set a “hold” rating and a $55.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.69.

Read Our Latest Report on INCY

Incyte Price Performance

Shares of NASDAQ:INCY opened at $59.40 on Tuesday. The stock has a market capitalization of $13.34 billion, a P/E ratio of 18.00, a P/E/G ratio of 1.27 and a beta of 0.74. The business has a 50-day moving average of $55.29 and a two-hundred day moving average of $58.10. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $67.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43.

Incyte (NASDAQ:INCYGet Free Report) last posted its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The company had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. On average, equities research analysts predict that Incyte Co. will post 3.57 EPS for the current fiscal year.

Incyte Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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