180 Wealth Advisors LLC Raises Position in Incyte Co. (NASDAQ:INCY)

180 Wealth Advisors LLC raised its holdings in shares of Incyte Co. (NASDAQ:INCY) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,231 shares of the biopharmaceutical company’s stock after acquiring an additional 195 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Incyte were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of INCY. Brooklyn Investment Group purchased a new position in shares of Incyte during the 3rd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte during the 3rd quarter valued at $33,000. Itau Unibanco Holding S.A. purchased a new position in shares of Incyte during the 2nd quarter valued at $36,000. Cromwell Holdings LLC lifted its stake in shares of Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 283 shares in the last quarter. Finally, Groupama Asset Managment lifted its stake in shares of Incyte by 11.4% during the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 6,105 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INCY. Truist Financial restated a “hold” rating and set a $74.00 target price (down previously from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Citigroup lifted their price target on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price target (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Finally, Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and lifted their price target for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $76.29.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $72.46 on Thursday. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 517.61, a PEG ratio of 7.90 and a beta of 0.71. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The firm’s 50-day moving average is $72.95 and its 200 day moving average is $67.78. 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 (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. Research analysts predict that Incyte Co. will post 0.4 EPS for the current year.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,023 shares of company stock worth $839,711. Insiders own 17.60% of the company’s stock.

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.