Captrust Financial Advisors Grows Stake in Incyte Co. (NASDAQ:INCY)

Captrust Financial Advisors raised its position in Incyte Co. (NASDAQ:INCY - Free Report) by 248.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,166 shares of the biopharmaceutical company's stock after acquiring an additional 14,382 shares during the quarter. Captrust Financial Advisors' holdings in Incyte were worth $1,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of INCY. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte in the fourth quarter worth about $26,000. Global X Japan Co. Ltd. raised its stake in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 230 shares during the period. R Squared Ltd purchased a new stake in shares of Incyte during the fourth quarter worth about $30,000. Blue Trust Inc. grew its position in shares of Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 329 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Incyte during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 96.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INCY shares. Truist Financial cut their target price on Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. Guggenheim cut Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price for the company. in a research report on Tuesday, March 18th. JMP Securities reiterated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Royal Bank of Canada increased their target price on Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their target price on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Incyte presently has an average rating of "Hold" and an average price target of $73.53.

Insider Buying and Selling

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,475 shares of company stock valued at $2,424,751. Insiders own 17.80% of the company's stock.

Incyte Trading Up 0.9%

Shares of NASDAQ:INCY traded up $0.55 during trading on Friday, hitting $63.31. The company had a trading volume of 1,330,051 shares, compared to its average volume of 2,324,761. The stock has a market cap of $12.25 billion, a price-to-earnings ratio of 234.49, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. Incyte Co. has a one year low of $53.56 and a one year high of $83.95. The company has a fifty day simple moving average of $60.49 and a two-hundred day simple moving average of $68.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $996.17 million. During the same period last year, the company earned $0.64 EPS. Incyte's quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts forecast that Incyte Co. will post 4.86 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.