Incyte Co. (NASDAQ:INCY) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its holdings in Incyte Co. (NASDAQ:INCY) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,588 shares of the biopharmaceutical company’s stock after selling 625 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Incyte were worth $1,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of INCY. Wealth Enhancement Advisory Services LLC lifted its stake in Incyte by 13.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,944 shares of the biopharmaceutical company’s stock valued at $566,000 after purchasing an additional 1,146 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Incyte by 4.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock worth $271,000 after acquiring an additional 204 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Incyte by 123.7% in the 1st quarter. Diversified Trust Co now owns 36,062 shares of the biopharmaceutical company’s stock worth $2,054,000 after acquiring an additional 19,944 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Incyte during the first quarter worth $28,000. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of Incyte by 10.3% during the first quarter. First Trust Direct Indexing L.P. now owns 30,271 shares of the biopharmaceutical company’s stock valued at $1,725,000 after purchasing an additional 2,817 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INCY. Deutsche Bank Aktiengesellschaft lifted their price target on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. BMO Capital Markets restated an “underperform” rating and set a $48.00 price target (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $67.00 price objective on shares of Incyte in a research note on Tuesday, September 3rd. Guggenheim boosted their target price on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Monday, September 16th. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.42.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $65.07 on Friday. The stock has a market capitalization of $12.53 billion, a P/E ratio of 180.75, a P/E/G ratio of 5.31 and a beta of 0.73. The business has a 50-day moving average of $65.15 and a two-hundred day moving average of $61.21. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84.

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

Insider Buying and Selling

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were 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 of the company’s stock, valued at $2,269,280.40. 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 at the SEC website. In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The stock was 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 of the company’s stock, valued at $2,269,280.40. The trade was 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, insider Thomas Tray sold 572 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were 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 $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is owned by insiders.

Incyte Company 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.