Patton Albertson Miller Group LLC Sells 3,873 Shares of Incyte Co. (NASDAQ:INCY)

Patton Albertson Miller Group LLC lessened its holdings in Incyte Co. (NASDAQ:INCY) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,743 shares of the biopharmaceutical company’s stock after selling 3,873 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Incyte were worth $5,205,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Acadian Asset Management LLC lifted its position in Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after purchasing an additional 779,243 shares during the period. LSV Asset Management lifted its position in Incyte by 0.5% during the second quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after purchasing an additional 15,115 shares during the period. Pacer Advisors Inc. lifted its position in Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after purchasing an additional 2,676,851 shares during the period. AQR Capital Management LLC raised its stake in Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after acquiring an additional 1,101,041 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its stake in Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after acquiring an additional 1,985,726 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Insider Activity

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on 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 approximately $2,269,280.40. This trade represents a 18.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction 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 approximately $1,562,485.50. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,702 shares of company stock worth $856,166 in the last quarter. 17.60% of the stock is owned by corporate insiders.

Incyte Price Performance

Incyte stock opened at $73.52 on Tuesday. The stock has a market capitalization of $14.16 billion, a price-to-earnings ratio of 525.18, a PEG ratio of 8.27 and a beta of 0.71. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The stock’s 50 day moving average price is $70.04 and its two-hundred day moving average price is $64.69.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion during 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 was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. On average, equities analysts predict that Incyte Co. will post 0.4 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley boosted their target price on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. boosted their target price on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their target price on Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 14th. Finally, BMO Capital Markets reissued an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Incyte currently has an average rating of “Hold” and an average price target of $77.16.

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.