Incyte Co. (NASDAQ:INCY) Shares Sold by Toroso Investments LLC

Toroso Investments LLC lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 48.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,312 shares of the biopharmaceutical company’s stock after selling 12,503 shares during the period. Toroso Investments LLC’s holdings in Incyte were worth $962,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Advisor Networks LLC boosted its holdings in shares of Incyte by 7.4% in the first quarter. Cetera Advisor Networks LLC now owns 5,265 shares of the biopharmaceutical company’s stock valued at $418,000 after acquiring an additional 362 shares during the period. Private Advisor Group LLC acquired a new stake in Incyte during the 1st quarter worth $323,000. D.A. Davidson & CO. grew its position in Incyte by 4.8% during the 1st quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 150 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Incyte by 6.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,172 shares of the biopharmaceutical company’s stock valued at $1,999,000 after purchasing an additional 1,605 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Incyte by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 596,022 shares of the biopharmaceutical company’s stock valued at $47,338,000 after buying an additional 43,168 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INCY has been the subject of several analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $74.00 price objective on shares of Incyte in a research note on Wednesday, August 2nd. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Monday, August 28th. Citigroup began coverage on shares of Incyte in a research note on Tuesday, July 25th. They issued a “buy” rating and a $82.00 price objective on the stock. JMP Securities restated a “market outperform” rating and issued a $93.00 target price on shares of Incyte in a research note on Wednesday, August 2nd. Finally, Royal Bank of Canada boosted their price target on shares of Incyte from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $82.00.

Incyte Stock Performance

Shares of INCY opened at $59.51 on Tuesday. Incyte Co. has a 1 year low of $58.54 and a 1 year high of $86.29. The company’s 50 day simple moving average is $63.90 and its 200 day simple moving average is $66.63. The company has a market capitalization of $13.34 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 3.04 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.78 and a current ratio of 3.81.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.69 by $0.08. The company had revenue of $954.61 million during the quarter, compared to analysts’ expectations of $920.18 million. Incyte had a return on equity of 9.25% and a net margin of 10.43%. On average, sell-side analysts predict that Incyte Co. will post 2.98 EPS for the current year.

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, Europe, Japan, and internationally. The company offers JAKAFI (ruxolitinib), for the treatment of adults with intermediate or high-risk myelofibrosis; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.