EP Wealth Advisors LLC Grows Stock Holdings in Incyte Co. (NASDAQ:INCY)

EP Wealth Advisors LLC grew its holdings in Incyte Co. (NASDAQ:INCY) by 9.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,961 shares of the biopharmaceutical company’s stock after buying an additional 332 shares during the period. EP Wealth Advisors LLC’s holdings in Incyte were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Incyte by 48.8% during the fourth quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock worth $8,266,000 after buying an additional 43,160 shares during the period. Fulton Bank N.A. bought a new stake in Incyte in the first quarter worth about $1,425,000. FORVIS Wealth Advisors LLC purchased a new position in shares of Incyte during the first quarter valued at approximately $1,495,000. ProShare Advisors LLC boosted its position in shares of Incyte by 14.4% during the first quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock valued at $3,594,000 after buying an additional 7,925 shares during the period. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Incyte in the first quarter worth approximately $463,000. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on INCY. Deutsche Bank Aktiengesellschaft upped their price objective on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Citigroup upped their price target on shares of Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $67.00 target price on shares of Incyte in a research report on Tuesday, September 3rd. Oppenheimer decreased their target price on Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Guggenheim upped their target price on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.83.

Insider Activity

In other news, EVP Barry P. Flannelly sold 1,306 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $3,725,715.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Barry P. Flannelly sold 1,306 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at $3,725,715.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vijay K. Iyengar sold 15,571 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the sale, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,047 shares of company stock valued at $2,225,626. Company insiders own 17.50% of the company’s stock.

Incyte Stock Up 0.7 %

Incyte stock opened at $67.49 on Friday. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $70.36. The business has a fifty day moving average price of $64.33 and a 200-day moving average price of $60.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. The stock has a market capitalization of $15.15 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 5.17 and a beta of 0.73.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. Incyte’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. Equities research analysts forecast that Incyte Co. will post 0.66 EPS for the current fiscal 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 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.