Diversified Trust Co Trims Stock Holdings in Incyte Corporation (NASDAQ:INCY)

Diversified Trust Co reduced its holdings in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 15.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,710 shares of the biopharmaceutical company's stock after selling 6,555 shares during the quarter. Diversified Trust Co's holdings in Incyte were worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte during the fourth quarter valued at $26,000. Raiffeisen Bank International AG bought a new position in shares of Incyte during the fourth quarter valued at $34,000. NBC Securities Inc. lifted its holdings in shares of Incyte by 88,200.0% during the first quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 882 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Incyte by 40.7% during the fourth quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company's stock valued at $65,000 after purchasing an additional 270 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new position in shares of Incyte during the first quarter valued at $73,000. 96.97% of the stock is owned by institutional investors.

Incyte Stock Performance

INCY traded down $2.44 during midday trading on Friday, reaching $68.37. The company had a trading volume of 3,495,236 shares, compared to its average volume of 1,978,911. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $64.49 and a two-hundred day moving average of $66.69. The company has a market cap of $13.23 billion, a P/E ratio of 213.66, a P/E/G ratio of 0.58 and a beta of 0.67. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $83.95.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on INCY shares. UBS Group reaffirmed a "neutral" rating and set a $61.00 price target on shares of Incyte in a report on Tuesday, June 3rd. Morgan Stanley lowered their price target on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. lowered their price target on Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. William Blair downgraded Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. Finally, Wells Fargo & Company increased their target price on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $74.53.

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.