5,470 Shares in Incyte Co. (NASDAQ:INCY) Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC purchased a new position in shares of Incyte Co. (NASDAQ:INCY) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,470 shares of the biopharmaceutical company’s stock, valued at approximately $362,000.

A number of other large investors have also bought and sold shares of INCY. Kennedy Capital Management LLC bought a new stake in Incyte during the 1st quarter worth approximately $463,000. California State Teachers Retirement System lifted its holdings in Incyte by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 305,501 shares of the biopharmaceutical company’s stock worth $17,404,000 after buying an additional 2,589 shares in the last quarter. Tidal Investments LLC lifted its holdings in Incyte by 113.7% during the 1st quarter. Tidal Investments LLC now owns 38,894 shares of the biopharmaceutical company’s stock worth $2,216,000 after buying an additional 20,694 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Incyte during the 1st quarter worth $524,000. Finally, Virtu Financial LLC acquired a new position in Incyte during the 1st quarter worth $638,000. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INCY has been the topic of several research reports. BMO Capital Markets reaffirmed an “underperform” rating and set a $52.00 price objective (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and increased their price target for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. Wells Fargo & Company increased their price target on Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.16.

Incyte Price Performance

INCY stock opened at $75.45 on Thursday. The stock has a 50-day moving average price of $70.41 and a two-hundred day moving average price of $64.92. The stock has a market cap of $14.54 billion, a PE ratio of 538.93, a price-to-earnings-growth ratio of 8.48 and a beta of 0.71. 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 Co. has a 1 year low of $50.35 and a 1 year high of $83.95.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. Equities analysts forecast that Incyte Co. will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’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 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 18.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,702 shares of company stock worth $856,166. Corporate insiders own 17.60% of the company’s stock.

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.