Grandfield & Dodd LLC Grows Holdings in Incyte Co. (NASDAQ:INCY)

Grandfield & Dodd LLC lifted its position in shares of Incyte Co. (NASDAQ:INCY) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,525 shares of the biopharmaceutical company’s stock after acquiring an additional 610 shares during the quarter. Grandfield & Dodd LLC’s holdings in Incyte were worth $1,291,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Incyte by 17,460.4% in the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after purchasing an additional 2,676,851 shares during the last quarter. Mizuho Securities USA LLC raised its position in shares of Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after buying an additional 1,985,726 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after buying an additional 1,101,041 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after buying an additional 779,243 shares in the last quarter. Finally, Swedbank AB acquired a new position in Incyte during the first quarter worth about $37,440,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. This trade represents a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,702 shares of company stock valued at $856,166 in the last three months. 17.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on INCY shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Tuesday. Wolfe Research initiated coverage on Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Finally, Royal Bank of Canada boosted their price target on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Incyte currently has a consensus rating of “Hold” and an average price target of $77.16.

Incyte Stock Down 8.3 %

Incyte stock opened at $70.56 on Wednesday. The company has a market capitalization of $13.59 billion, a PE ratio of 504.04, a price-to-earnings-growth ratio of 8.75 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The firm has a 50 day moving average price of $69.43 and a 200 day moving average price of $64.19.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. Research analysts expect that Incyte Co. will post 0.4 earnings per share for the current year.

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.