Ellis Investment Partners LLC Has $1.31 Million Stake in Incyte Co. (NASDAQ:INCY)

Ellis Investment Partners LLC raised its stake in shares of Incyte Co. (NASDAQ:INCY) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 19,756 shares of the biopharmaceutical company’s stock after purchasing an additional 950 shares during the quarter. Ellis Investment Partners LLC’s holdings in Incyte were worth $1,306,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in INCY. FORVIS Wealth Advisors LLC bought a new position in Incyte during the first quarter valued at about $1,495,000. ProShare Advisors LLC raised its stake in shares of Incyte by 14.4% in the first quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock valued at $3,594,000 after purchasing an additional 7,925 shares in the last quarter. Kennedy Capital Management LLC bought a new position in Incyte in the first quarter worth $463,000. Diversified Trust Co boosted its stake in Incyte by 123.7% during the first quarter. Diversified Trust Co now owns 36,062 shares of the biopharmaceutical company’s stock worth $2,054,000 after buying an additional 19,944 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in Incyte in the 1st quarter valued at $1,817,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In related news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s 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 completion of the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on INCY shares. Guggenheim raised their price objective on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. BMO Capital Markets reissued an “underperform” rating and issued a $48.00 target price (down from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Truist Financial reaffirmed a “hold” rating and issued a $74.00 price target (down previously from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Finally, Citigroup increased their price objective on Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.42.

Incyte Trading Down 0.3 %

NASDAQ:INCY traded down $0.17 during trading hours on Friday, hitting $65.07. 1,086,374 shares of the stock were exchanged, compared to its average volume of 1,311,954. The company has a market capitalization of $12.53 billion, a P/E ratio of 180.75, a price-to-earnings-growth ratio of 5.31 and a beta of 0.73. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $65.15 and its two-hundred day moving average is $61.25. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $70.36.

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