Incyte Co. (NASDAQ:INCY) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its position in Incyte Co. (NASDAQ:INCY - Free Report) by 53.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,056 shares of the biopharmaceutical company's stock after selling 24,118 shares during the quarter. Sanctuary Advisors LLC's holdings in Incyte were worth $1,510,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in INCY. Orion Portfolio Solutions LLC bought a new position in shares of Incyte in the third quarter worth about $770,000. Greenwood Capital Associates LLC bought a new stake in shares of Incyte during the third quarter valued at approximately $433,000. Andra AP fonden boosted its holdings in shares of Incyte by 35.2% in the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company's stock valued at $15,022,000 after purchasing an additional 64,500 shares during the period. Cypress Capital Group bought a new position in Incyte in the third quarter worth approximately $971,000. Finally, Bridgewater Associates LP increased its holdings in Incyte by 142.8% during the 3rd quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company's stock worth $20,401,000 after purchasing an additional 181,504 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their price target on Incyte from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a report on Tuesday, November 19th. William Blair restated an "outperform" rating on shares of Incyte in a report on Friday, December 13th. Bank of America upgraded shares of Incyte from a "neutral" rating to a "buy" rating and increased their price objective for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. Finally, Truist Financial reissued a "hold" rating and issued a $74.00 price objective (down previously from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $76.29.

Insider Activity at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,023 shares of company stock worth $839,711. 17.60% of the stock is currently owned by company insiders.

Incyte Trading Up 2.7 %

INCY stock traded up $1.78 during midday trading on Friday, hitting $68.84. 6,766,739 shares of the company's stock were exchanged, compared to its average volume of 2,352,675. The stock has a market capitalization of $13.26 billion, a PE ratio of 491.75, a P/E/G ratio of 8.36 and a beta of 0.69. 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 $83.95. The business has a 50-day simple moving average of $72.42 and a two-hundred day simple moving average of $66.56.

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

Incyte 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.