Incyte Co. (NASDAQ:INCY) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lessened its holdings in shares of Incyte Co. (NASDAQ:INCY) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,930 shares of the biopharmaceutical company’s stock after selling 366 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Incyte were worth $260,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Incyte by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock worth $1,294,120,000 after purchasing an additional 196,440 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Incyte by 28.0% during the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after purchasing an additional 779,243 shares during the period. LSV Asset Management raised its position in shares of Incyte by 0.5% in the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after buying an additional 15,115 shares during the period. Pacer Advisors Inc. raised its position in shares of Incyte by 17,460.4% in the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after buying an additional 2,676,851 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after buying an additional 1,101,041 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the sale, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,899 shares of company stock worth $1,736,746 over the last quarter. 17.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INCY. Deutsche Bank Aktiengesellschaft increased their target price on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Monday, September 16th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Wolfe Research initiated coverage on shares of Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price on the stock. Finally, Oppenheimer cut their price target on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.21.

Incyte Stock Up 1.1 %

Incyte stock opened at $66.12 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $70.36. The firm’s fifty day moving average is $64.30 and its 200 day moving average is $60.59. The company has a market capitalization of $14.85 billion, a PE ratio of 20.04, a PEG ratio of 5.30 and a beta of 0.73.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict 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.