Greenwood Capital Associates LLC Acquires Shares of 6,546 Incyte Co. (NASDAQ:INCY)

Greenwood Capital Associates LLC acquired a new position in shares of Incyte Co. (NASDAQ:INCY - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,546 shares of the biopharmaceutical company's stock, valued at approximately $433,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Incyte by 13.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,944 shares of the biopharmaceutical company's stock worth $566,000 after buying an additional 1,146 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Incyte in the 1st quarter valued at $236,000. Fidelis Capital Partners LLC acquired a new position in shares of Incyte in the first quarter valued at about $32,000. Daiwa Securities Group Inc. grew its position in Incyte by 42.9% during the first quarter. Daiwa Securities Group Inc. now owns 32,957 shares of the biopharmaceutical company's stock worth $1,878,000 after buying an additional 9,893 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Incyte in the 1st quarter valued at $266,000. 96.97% of the stock is owned by institutional investors.

Incyte Stock Performance

NASDAQ:INCY traded up $3.67 during trading hours on Wednesday, reaching $80.95. The stock had a trading volume of 5,291,690 shares, compared to its average volume of 2,339,712. The stock has a 50 day simple moving average of $66.49 and a 200 day simple moving average of $62.30. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $82.19. The stock has a market cap of $15.60 billion, a P/E ratio of 552.00, a price-to-earnings-growth ratio of 6.68 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 (NASDAQ:INCY - Get Free Report) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share 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 analysts' expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte's revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. On average, research analysts forecast that Incyte Co. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INCY. JPMorgan Chase & Co. raised their target price on Incyte from $65.00 to $71.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. William Blair reissued an "outperform" rating on shares of Incyte in a research note on Monday, September 9th. Guggenheim raised their price target on shares of Incyte from $86.00 to $92.00 and gave the stock a "buy" rating in a report on Monday, September 16th. JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a research note on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Incyte from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $76.74.

Insider Activity

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction that occurred on 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 directly owns 36,390 shares in the company, valued at $2,269,280.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were 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 in the company, valued at $2,269,280.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 572 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were 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 of the company's stock, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is owned by company insiders.

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.