Diversified Trust Co Purchases 19,944 Shares of Incyte Co. (NASDAQ:INCY)

Diversified Trust Co grew its position in shares of Incyte Co. (NASDAQ:INCY) by 123.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 36,062 shares of the biopharmaceutical company’s stock after acquiring an additional 19,944 shares during the quarter. Diversified Trust Co’s holdings in Incyte were worth $2,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cape Investment Advisory Inc. bought a new stake in Incyte in the fourth quarter worth $25,000. Larson Financial Group LLC increased its stake in Incyte by 4,220.0% in 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. Riverview Trust Co purchased a new stake in Incyte in the first quarter worth $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Incyte in the fourth quarter worth $31,000. Finally, EverSource Wealth Advisors LLC increased its stake in Incyte by 597.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 635 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 544 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on INCY. Deutsche Bank Aktiengesellschaft assumed coverage on Incyte in a research note on Thursday, May 23rd. They issued a “hold” rating and a $55.00 target price on the stock. Oppenheimer cut their price target on Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Bank of America cut their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Royal Bank of Canada restated a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research note on Monday, March 25th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Tuesday, June 18th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.69.

Insider Buying and Selling

In related news, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the sale, the executive vice president now owns 66,377 shares of the company’s stock, valued at $3,982,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the transaction, the executive vice president now directly owns 66,377 shares in the company, valued at $3,982,620. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 1,093 shares of Incyte stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the transaction, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Incyte Stock Up 0.8 %

NASDAQ INCY traded up $0.51 during trading on Monday, hitting $61.13. The company’s stock had a trading volume of 687,214 shares, compared to its average volume of 2,604,606. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. The company has a market cap of $13.73 billion, a PE ratio of 18.46, a P/E/G ratio of 1.31 and a beta of 0.74. The business’s 50 day simple moving average is $57.40 and its 200-day simple moving average is $58.71. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $67.36.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The firm had revenue of $880.89 million for the quarter, compared to analyst estimates of $935.85 million. On average, equities analysts anticipate that Incyte Co. will post 3.57 EPS 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.