Wealth Enhancement Advisory Services LLC Grows Position in Incyte Co. (NASDAQ:INCY)

Wealth Enhancement Advisory Services LLC grew its position in Incyte Co. (NASDAQ:INCY) by 22.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,533 shares of the biopharmaceutical company’s stock after acquiring an additional 2,145 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Incyte were worth $762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC increased its holdings in Incyte by 4.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 155 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 164 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of Incyte by 1.3% in the second quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after buying an additional 179 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Incyte by 4.0% during the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock valued at $287,000 after buying an additional 182 shares during the period. Finally, Tectonic Advisors LLC lifted its position in Incyte by 1.6% during the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Guggenheim lifted their target price on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Monday, September 16th. Finally, Morgan Stanley upped their target price on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.74.

Insider Activity

In other Incyte news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Thomas Tray sold 572 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value 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 approximately $1,562,485.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following 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 position. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by company insiders.

Incyte Stock Up 4.7 %

INCY opened at $80.95 on Thursday. The stock’s fifty day moving average is $66.79 and its 200-day moving average is $62.43. Incyte Co. has a one year low of $50.35 and a one year high of $82.19. The company has a market capitalization of $15.60 billion, a PE ratio of 578.26, a P/E/G ratio of 8.73 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities analysts predict that Incyte Co. will post 0.4 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.