Crossmark Global Holdings Inc. Has $3.45 Million Stock Position in Incyte Co. (NASDAQ:INCY)

Crossmark Global Holdings Inc. increased its position in shares of Incyte Co. (NASDAQ:INCY) by 99.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,978 shares of the biopharmaceutical company’s stock after buying an additional 24,899 shares during the period. Crossmark Global Holdings Inc.’s holdings in Incyte were worth $3,452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ballentine Partners LLC raised its stake in Incyte by 14.3% during the 4th quarter. Ballentine Partners LLC now owns 5,335 shares of the biopharmaceutical company’s stock valued at $368,000 after purchasing an additional 666 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in shares of Incyte during the 4th quarter worth about $77,000. Merit Financial Group LLC acquired a new position in shares of Incyte during the fourth quarter valued at about $624,000. Gateway Investment Advisers LLC lifted its stake in shares of Incyte by 14.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 4,517 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 587 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its position in Incyte by 45.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,708 shares of the biopharmaceutical company’s stock worth $2,466,000 after buying an additional 11,120 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,375 shares of company stock worth $1,737,578 over the last 90 days. 17.60% of the stock is owned by insiders.

Incyte Stock Down 1.4 %

Shares of NASDAQ:INCY opened at $72.41 on Thursday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The firm has a market cap of $13.95 billion, a P/E ratio of 517.25, a P/E/G ratio of 0.52 and a beta of 0.71. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $72.02 and its two-hundred day moving average price is $68.27.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results 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 company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. As a group, research analysts forecast that Incyte Co. will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on INCY. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. UBS Group initiated coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 14th. Wolfe Research began coverage on shares of Incyte in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective for the company. Finally, William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $76.29.

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.