Tri Ri Asset Management Corp Takes Position in Incyte Co. (NASDAQ:INCY)

Tri Ri Asset Management Corp purchased a new position in Incyte Co. (NASDAQ:INCY - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 49,161 shares of the biopharmaceutical company's stock, valued at approximately $3,292,000. Incyte comprises 1.7% of Tri Ri Asset Management Corp's holdings, making the stock its 24th largest position.

Other large investors also recently modified their holdings of the company. Haverford Trust Co grew its stake in shares of Incyte by 1.8% during the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company's stock valued at $515,000 after purchasing an additional 135 shares during the period. V Square Quantitative Management LLC raised its position in Incyte by 4.1% in the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company's stock worth $262,000 after acquiring an additional 155 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in shares of Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company's stock worth $37,000 after acquiring an additional 164 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Incyte by 4.0% during the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company's stock valued at $287,000 after acquiring an additional 182 shares during the period. Finally, Tectonic Advisors LLC raised its holdings in Incyte by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company's stock worth $819,000 after purchasing an additional 190 shares during the period. Institutional investors own 96.97% of the company's stock.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. 17.60% of the stock is currently owned by corporate insiders.

Incyte Trading Down 3.2 %

Shares of Incyte stock traded down $2.28 during trading on Friday, hitting $68.55. The stock had a trading volume of 1,714,711 shares, compared to its average volume of 2,336,925. The stock has a market cap of $13.21 billion, a PE ratio of 496.43, a PEG ratio of 8.36 and a beta of 0.69. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The firm's fifty day simple moving average is $72.12 and its 200-day simple moving average is $66.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

Incyte (NASDAQ:INCY - Get Free Report) last announced 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). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter last year, the firm earned $0.91 EPS. The firm's quarterly revenue was up 23.8% on a year-over-year basis. As a group, sell-side analysts expect that Incyte Co. will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INCY has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Incyte from $65.00 to $71.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Oppenheimer increased their target price on shares of Incyte from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price objective 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. The Goldman Sachs Group increased their target price on Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets reissued an "underperform" rating and issued a $52.00 price target (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $77.16.

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.