The Manufacturers Life Insurance Company Sells 30,011 Shares of Incyte Co. (NASDAQ:INCY)

The Manufacturers Life Insurance Company lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 19.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 124,189 shares of the biopharmaceutical company’s stock after selling 30,011 shares during the period. The Manufacturers Life Insurance Company’s holdings in Incyte were worth $7,528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte during the second quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in Incyte during the 1st quarter worth approximately $28,000. Riverview Trust Co bought a new stake in Incyte during the 1st quarter worth approximately $29,000. Fidelis Capital Partners LLC acquired a new position in Incyte in the 1st quarter valued at approximately $32,000. Finally, Innealta Capital LLC bought a new position in shares of Incyte during the second quarter valued at $32,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the transaction, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at $2,569,070. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 572 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents 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. Corporate insiders own 17.50% of the company’s stock.

Incyte Stock Up 0.7 %

INCY stock opened at $67.49 on Friday. The stock’s 50 day simple moving average is $64.33 and its 200 day simple moving average is $60.26. The company has a market cap of $15.15 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36.

Incyte (NASDAQ:INCY) last issued its earnings results 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. Incyte’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 earnings per share. On average, research analysts expect that Incyte Co. will post 0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INCY. Oppenheimer reduced their price objective on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. BMO Capital Markets reiterated an “underperform” rating and issued a $48.00 price target (down previously from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft upped their target price on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Guggenheim increased their target price on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Incyte presently has a consensus rating of “Hold” and an average target price of $73.83.

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.