Clark Estates Inc. NY Reduces Position in Incyte Co. (NASDAQ:INCY)

Clark Estates Inc. NY lowered its position in Incyte Co. (NASDAQ:INCY) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,150 shares of the biopharmaceutical company’s stock after selling 4,400 shares during the quarter. Clark Estates Inc. NY’s holdings in Incyte were worth $3,579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. MFA Wealth Advisors LLC purchased a new stake in Incyte in the 2nd quarter valued at $26,000. Brooklyn Investment Group acquired a new position in Incyte in the third quarter valued at $30,000. Innealta Capital LLC purchased a new stake in shares of Incyte in the second quarter valued at about $32,000. Cromwell Holdings LLC boosted its stake in shares of Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Incyte during the second quarter worth about $36,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft increased their price target on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Royal Bank of Canada lifted their target price 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. Finally, Citigroup increased their price target on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Incyte currently has an average rating of “Hold” and an average price target of $77.16.

Insiders Place Their Bets

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,702 shares of company stock worth $856,166 over the last three months. 17.60% of the stock is owned by insiders.

Incyte Trading Up 1.7 %

NASDAQ INCY opened at $74.80 on Wednesday. The company has a market cap of $14.41 billion, a P/E ratio of 534.32, a P/E/G ratio of 8.48 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 company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The company has a 50-day moving average of $70.21 and a 200-day moving average of $64.85.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) 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 firm’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, equities analysts predict that Incyte Co. will post 0.4 earnings per share for the current year.

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.