Cypress Capital Group Takes Position in Incyte Co. (NASDAQ:INCY)

Cypress Capital Group bought a new stake in shares of Incyte Co. (NASDAQ:INCY) in the 3rd quarter, Holdings Channel reports. The fund bought 14,695 shares of the biopharmaceutical company’s stock, valued at approximately $971,000.

Several other large investors also recently modified their holdings of INCY. Acadian Asset Management LLC lifted its holdings in 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 acquiring an additional 779,243 shares during the last quarter. LSV Asset Management lifted its holdings in Incyte by 0.5% in the second quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after acquiring an additional 15,115 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares during the last quarter. AQR Capital Management LLC lifted its holdings in 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 acquiring an additional 1,101,041 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Incyte by 7.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,514,634 shares of the biopharmaceutical company’s stock valued at $143,259,000 after buying an additional 177,852 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Down 0.8 %

INCY stock opened at $70.45 on Friday. The stock’s 50 day simple moving average is $69.73 and its 200 day simple moving average is $64.28. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The company has a market cap of $13.57 billion, a P/E ratio of 503.25, a price-to-earnings-growth ratio of 8.14 and a beta of 0.71.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share. On average, research analysts expect that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the 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 transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This represents a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,702 shares of company stock valued at $856,166. Company insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Truist Financial reaffirmed a “hold” rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Citigroup upped their target price on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets restated an “underperform” rating and set a $52.00 price objective (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Incyte currently has an average rating of “Hold” and a consensus price target of $77.16.

Incyte 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.