Incyte Co. (NASDAQ:INCY) Shares Sold by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. lowered its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,690 shares of the biopharmaceutical company's stock after selling 5,495 shares during the period. Incyte comprises 3.0% of Shikiar Asset Management Inc.'s portfolio, making the stock its 8th largest position. Shikiar Asset Management Inc. owned 0.08% of Incyte worth $11,168,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Incyte in the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Incyte in the third quarter worth about $33,000. Cromwell Holdings LLC increased its holdings in Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company's stock valued at $37,000 after buying an additional 283 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Incyte during the second quarter valued at approximately $36,000. Finally, Capital Performance Advisors LLP bought a new position in Incyte during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 96.97% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a report on Friday, January 10th. The Goldman Sachs Group increased their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Bank of America raised shares of Incyte from a "neutral" rating to a "buy" rating and lifted their price target for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Oppenheimer increased their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $76.29.

Insiders Place Their Bets

In other news, insider Thomas Tray sold 650 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares of the company's stock, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the business'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 sale, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,023 shares of company stock worth $839,711. 17.60% of the stock is owned by corporate insiders.

Incyte Price Performance

Shares of Incyte stock traded down $0.54 on Friday, hitting $71.93. The company had a trading volume of 1,004,226 shares, compared to its average volume of 1,542,123. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a market cap of $13.86 billion, a PE ratio of 513.82, a PEG ratio of 0.51 and a beta of 0.71. The business has a 50-day simple moving average of $72.36 and a 200-day simple moving average of $67.98. 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 issued its quarterly 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). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. Research analysts expect that Incyte Co. will post 0.4 EPS for the current fiscal year.

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.