D.A. Davidson & CO. Cuts Stake in Incyte Co. (NASDAQ:INCY)

D.A. Davidson & CO. reduced its stake in Incyte Co. (NASDAQ:INCY) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,225 shares of the biopharmaceutical company’s stock after selling 250 shares during the period. D.A. Davidson & CO.’s holdings in Incyte were worth $213,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Greenwood Capital Associates LLC purchased a new stake in shares of Incyte in the third quarter worth $433,000. Andra AP fonden boosted its position in shares of Incyte by 35.2% during the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock valued at $15,022,000 after buying an additional 64,500 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Incyte by 54.0% during the second quarter. SG Americas Securities LLC now owns 67,936 shares of the biopharmaceutical company’s stock valued at $4,118,000 after buying an additional 23,817 shares during the last quarter. Cypress Capital Group purchased a new stake in shares of Incyte during the third quarter valued at $971,000. Finally, Commerce Bank purchased a new stake in shares of Incyte during the third quarter valued at $610,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on 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 directly owns 36,390 shares of the company’s stock, valued at $2,269,280.40. The trade was a 18.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,745 shares of company stock valued at $1,311,687. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on INCY shares. The Goldman Sachs Group increased their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wolfe Research started coverage on Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price objective on the stock. BMO Capital Markets reaffirmed an “underperform” rating and set a $52.00 price objective (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and increased their target price for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.16.

Incyte Stock Up 3.6 %

NASDAQ INCY opened at $74.62 on Thursday. The stock’s 50 day moving average is $71.34 and its 200 day moving average is $65.51. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The stock has a market cap of $14.38 billion, a PE ratio of 533.00, a P/E/G ratio of 8.44 and a beta of 0.69.

Incyte (NASDAQ:INCY) last posted its earnings results 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). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s revenue was up 23.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. Research analysts predict that Incyte Co. will post 0.4 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.