Creative Planning Purchases 1,307 Shares of Incyte Co. (NASDAQ:INCY)

Creative Planning grew its position in shares of Incyte Co. (NASDAQ:INCY) by 6.2% in the third quarter, Holdings Channel reports. The fund owned 22,366 shares of the biopharmaceutical company’s stock after buying an additional 1,307 shares during the quarter. Creative Planning’s holdings in Incyte were worth $1,478,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of INCY. Shikiar Asset Management Inc. raised its stake in Incyte by 3.2% during the third quarter. Shikiar Asset Management Inc. now owns 167,185 shares of the biopharmaceutical company’s stock valued at $11,051,000 after purchasing an additional 5,160 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Incyte by 81.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 33,325 shares of the biopharmaceutical company’s stock worth $2,203,000 after buying an additional 14,953 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Incyte by 102.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,562 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 790 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Incyte in the 3rd quarter valued at about $478,000. Finally, Tobam purchased a new position in Incyte in the third quarter worth about $878,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INCY has been the subject of several analyst reports. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and raised their price objective for the company from $68.00 to $90.00 in a research note on Tuesday. Wolfe Research started coverage on Incyte in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price target for the company. BMO Capital Markets reiterated an “underperform” rating and set a $48.00 price objective (down previously from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Monday, September 16th. Finally, Citigroup raised their price objective on shares of Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.58.

Incyte Trading Up 12.0 %

NASDAQ:INCY opened at $73.60 on Wednesday. The firm has a market cap of $14.18 billion, a P/E ratio of 22.30, a P/E/G ratio of 5.31 and a beta of 0.73. The firm has a 50-day simple moving average of $65.39 and a 200-day simple moving average of $61.51. 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 one year low of $50.27 and a one year high of $74.07.

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

Insider Buying and Selling

In other Incyte 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 value of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s 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 transaction, the executive vice president now directly owns 36,390 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 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 value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by company 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.