Incyte Co. (NASDAQ:INCY) Shares Sold by Advisory Alpha LLC

Advisory Alpha LLC lessened its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 50.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,895 shares of the biopharmaceutical company's stock after selling 3,995 shares during the period. Advisory Alpha LLC's holdings in Incyte were worth $236,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INCY. Quintet Private Bank Europe S.A. acquired a new position in Incyte during the fourth quarter worth $26,000. Global X Japan Co. Ltd. grew its position in Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd purchased a new stake in Incyte during the fourth quarter worth about $30,000. Raiffeisen Bank International AG acquired a new stake in shares of Incyte during the fourth quarter worth about $34,000. Finally, Blue Trust Inc. lifted 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. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

INCY traded up $0.20 during trading on Thursday, hitting $67.62. 558,164 shares of the stock were exchanged, compared to its average volume of 2,251,822. The firm has a market capitalization of $13.09 billion, a P/E ratio of 250.14, a PEG ratio of 0.41 and a beta of 0.68. Incyte Co. has a 1-year low of $53.56 and a 1-year high of $83.95. The stock has a fifty day moving average price of $61.15 and a two-hundred day moving average price of $67.28. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

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 for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. Incyte's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. As a group, sell-side analysts predict that Incyte Co. will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial upped their price objective on Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. Royal Bank of Canada boosted their target price on Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. Citigroup reduced their price target on Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Guggenheim cut Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective for the company. in a research note on Tuesday, March 18th. Finally, Morgan Stanley cut their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, March 24th. One 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. Based on data from MarketBeat, Incyte presently has an average rating of "Hold" and a consensus price target of $72.53.

Insider Buying and Selling

In other news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. This represents a 37.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.80% of the company's stock.

About Incyte

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.