Incyte Corporation (NASDAQ:INCY) Holdings Raised by Allegiance Financial Group Advisory Services LLC

Allegiance Financial Group Advisory Services LLC raised its holdings in Incyte Corporation (NASDAQ:INCY - Free Report) by 110.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,944 shares of the biopharmaceutical company's stock after purchasing an additional 3,649 shares during the quarter. Allegiance Financial Group Advisory Services LLC's holdings in Incyte were worth $420,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in INCY. Raiffeisen Bank International AG acquired a new position in Incyte during the 4th quarter worth approximately $34,000. NBC Securities Inc. grew its holdings in Incyte by 88,200.0% during the first quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 882 shares during the period. Huntington National Bank lifted its holdings in Incyte by 40.7% in the fourth quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company's stock valued at $65,000 after acquiring an additional 270 shares during the period. Intact Investment Management Inc. purchased a new stake in shares of Incyte during the 1st quarter worth $73,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Incyte by 474.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 1,280 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Down 1.6%

Shares of INCY stock traded down $1.08 during trading hours on Friday, reaching $67.86. The company had a trading volume of 1,556,792 shares, compared to its average volume of 1,943,810. The company has a market capitalization of $13.14 billion, a P/E ratio of 212.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 2.04. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $83.95. The stock's fifty day simple moving average is $67.12 and its 200 day simple moving average is $66.63.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same quarter in the previous year, the business posted $0.64 EPS. The firm's revenue was up 19.5% compared to the same quarter last year. As a group, sell-side analysts expect that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INCY has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of Incyte from $68.00 to $67.00 and set a "neutral" rating on the stock in a research report on Monday, July 14th. Wall Street Zen upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Morgan Stanley cut their price objective on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, March 24th. UBS Group reaffirmed a "neutral" rating and issued a $61.00 target price on shares of Incyte in a research note on Tuesday, June 3rd. Finally, Stifel Nicolaus raised Incyte from a "hold" rating to a "buy" rating and boosted their price target for the stock from $75.00 to $107.00 in a report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $74.47.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 10,903 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total transaction of $743,039.45. Following the transaction, the executive vice president owned 39,744 shares of the company's stock, valued at $2,708,553.60. This trade represents a 21.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steven H. Stein sold 14,952 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $68.47, for a total value of $1,023,763.44. Following the transaction, the executive vice president owned 97,466 shares in the company, valued at $6,673,497.02. This trade represents a 13.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,392 shares of company stock valued at $3,584,411 in the last 90 days. 17.80% of the stock is currently owned by insiders.

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.