Carnegie Capital Asset Management LLC bought a new stake in shares of Incyte Co. (NASDAQ:INCY – Get Rating) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,650 shares of the biopharmaceutical company's stock, valued at approximately $223,000.
Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its holdings in shares of Incyte by 91.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 213 shares during the last quarter. Ellevest Inc. lifted its holdings in shares of Incyte by 210.1% in the 1st quarter. Ellevest Inc. now owns 673 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 456 shares during the last quarter. CKW Financial Group lifted its holdings in shares of Incyte by 33.3% in the 1st quarter. CKW Financial Group now owns 800 shares of the biopharmaceutical company's stock worth $64,000 after acquiring an additional 200 shares during the last quarter. Tobam lifted its holdings in shares of Incyte by 53.3% in the 1st quarter. Tobam now owns 892 shares of the biopharmaceutical company's stock worth $71,000 after acquiring an additional 310 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Incyte by 22.5% during the 1st quarter. Parallel Advisors LLC now owns 976 shares of the biopharmaceutical company's stock valued at $78,000 after buying an additional 179 shares in the last quarter. 94.74% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Guggenheim lowered shares of Incyte to a "neutral" rating in a report on Tuesday, August 9th. SVB Leerink raised their target price on shares of Incyte from $58.00 to $63.00 and gave the company an "underperform" rating in a research report on Wednesday, July 20th. Morgan Stanley cut their price objective on shares of Incyte from $77.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 3rd. Oppenheimer dropped their target price on shares of Incyte from $109.00 to $98.00 in a research report on Wednesday, August 3rd. Finally, StockNews.com raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, August 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $84.92.
Insider Buying and Selling at Incyte
In other Incyte news, insider Thomas Tray sold 1,564 shares of the company's stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $83.13, for a total value of $130,015.32. Following the transaction, the insider now owns 17,702 shares of the company's stock, valued at $1,471,567.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at
this link. In other news, EVP Vijay K. Iyengar sold 5,787 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $79.38, for a total transaction of $459,372.06. Following the sale, the executive vice president now owns 40,313 shares of the company's stock, valued at $3,200,045.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through
the SEC website. Also, insider Thomas Tray sold 1,564 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $83.13, for a total transaction of $130,015.32. Following the sale, the insider now directly owns 17,702 shares in the company, valued at approximately $1,471,567.26. The disclosure for this sale can be found
here. 17.50% of the stock is currently owned by corporate insiders.
Incyte Trading Down 0.8 %
Shares of INCY opened at $66.89 on Friday. The company has a current ratio of 3.91, a quick ratio of 3.85 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12-month low of $61.91 and a 12-month high of $84.86. The firm has a 50-day moving average price of $73.33 and a 200 day moving average price of $75.38. The firm has a market capitalization of $14.88 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.09 and a beta of 0.66.
Incyte (NASDAQ:INCY – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.24. Incyte had a net margin of 28.46% and a return on equity of 13.02%. The firm had revenue of $911.40 million during the quarter, compared to analyst estimates of $818.25 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Incyte's quarterly revenue was up 29.1% on a year-over-year basis. Sell-side analysts forecast that Incyte Co. will post 2.45 EPS for the current year.
About Incyte
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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
Further Reading
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