Van ECK Associates Corp Has $8.79 Million Holdings in Incyte Co. (NASDAQ:INCY)

Van ECK Associates Corp lessened its position in Incyte Co. (NASDAQ:INCY - Free Report) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,881 shares of the biopharmaceutical company's stock after selling 27,112 shares during the period. Van ECK Associates Corp owned about 0.07% of Incyte worth $8,790,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC increased its position in Incyte by 4.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company's stock worth $262,000 after purchasing an additional 155 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings 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 valued at $37,000 after acquiring an additional 164 shares in the last quarter. Moody National Bank Trust Division boosted its position in Incyte by 1.3% during the 2nd quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company's stock worth $861,000 after purchasing an additional 179 shares during the period. Ballentine Partners LLC increased its holdings in Incyte by 4.0% in the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company's stock valued at $287,000 after purchasing an additional 182 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its stake in shares of Incyte by 1.6% during the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company's stock worth $819,000 after purchasing an additional 190 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INCY has been the topic of several analyst reports. Wolfe Research started coverage on Incyte in a report on Tuesday, October 1st. They set an "outperform" rating and a $84.00 target price on the stock. Bank of America raised shares of Incyte from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their target price on Incyte from $65.00 to $71.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Incyte from $67.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 30th. Finally, Citigroup raised their price objective on Incyte from $92.00 to $97.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $76.74.

Incyte Price Performance

NASDAQ INCY traded up $0.89 on Thursday, hitting $81.84. 1,086,055 shares of the company were exchanged, compared to its average volume of 2,333,909. The company has a market cap of $15.77 billion, a P/E ratio of 578.26, a P/E/G ratio of 8.73 and a beta of 0.71. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $82.19. The firm has a 50 day moving average of $66.79 and a two-hundred day moving average of $62.43.

Incyte (NASDAQ:INCY - Get Free Report) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 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 firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company posted $0.91 EPS. The firm's revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities analysts predict that Incyte Co. will post 0.4 EPS for the current year.

Insider Buying and Selling at Incyte

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares of the company's stock, valued at $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company's 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 directly owns 36,390 shares in the company, valued at $2,269,280.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Tray sold 572 shares of the 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 completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.60% of the company's stock.

About Incyte

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.