First Trust Direct Indexing L.P. Sells 1,086 Shares of Incyte Co. (NASDAQ:INCY)

First Trust Direct Indexing L.P. reduced its holdings in shares of Incyte Co. (NASDAQ:INCY) by 3.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 28,882 shares of the biopharmaceutical company’s stock after selling 1,086 shares during the period. First Trust Direct Indexing L.P.’s holdings in Incyte were worth $1,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Integrated Advisors Network LLC bought a new stake in shares of Incyte during the 3rd quarter worth approximately $967,000. China Universal Asset Management Co. Ltd. raised its position in Incyte by 40.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 37,043 shares of the biopharmaceutical company’s stock valued at $2,449,000 after purchasing an additional 10,627 shares in the last quarter. abrdn plc raised its position in Incyte by 3.7% during the 3rd quarter. abrdn plc now owns 66,238 shares of the biopharmaceutical company’s stock valued at $4,416,000 after purchasing an additional 2,335 shares in the last quarter. First Financial Bankshares Inc raised its position in Incyte by 4.0% during the 3rd quarter. First Financial Bankshares Inc now owns 39,802 shares of the biopharmaceutical company’s stock valued at $2,631,000 after purchasing an additional 1,518 shares in the last quarter. Finally, Ellis Investment Partners LLC raised its position in Incyte by 5.1% during the 3rd quarter. Ellis Investment Partners LLC now owns 19,756 shares of the biopharmaceutical company’s stock valued at $1,306,000 after purchasing an additional 950 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on INCY shares. Deutsche Bank Aktiengesellschaft lifted their target price on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Citigroup lifted their target price on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research 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. Wolfe Research started coverage on Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 target price for the company. Finally, BMO Capital Markets reaffirmed an “underperform” rating and set a $52.00 target price (up from $48.00) on shares of Incyte in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.74.

Incyte Stock Up 0.4 %

Shares of INCY stock opened at $73.93 on Thursday. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $74.60. The stock’s fifty day moving average price is $65.58 and its 200 day moving average price is $61.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 5.31 and a beta of 0.73.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($2.60). The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. On average, research analysts expect that Incyte Co. will post 0.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the sale, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Incyte news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the sale, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the sale, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.50% of the company’s stock.

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.