Sanctuary Advisors LLC Invests $2.74 Million in Incyte Co. (NASDAQ:INCY)

Sanctuary Advisors LLC bought a new stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 45,174 shares of the biopharmaceutical company's stock, valued at approximately $2,738,000.

A number of other large investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its holdings in Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company's stock valued at $163,200,000 after buying an additional 2,676,851 shares in the last quarter. AQR Capital Management LLC raised its stake in Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company's stock valued at $159,905,000 after purchasing an additional 1,101,041 shares in the last quarter. Acadian Asset Management LLC lifted its position in Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company's stock valued at $215,833,000 after purchasing an additional 779,243 shares during the last quarter. Swedbank AB purchased a new position in shares of Incyte in the 1st quarter worth $37,440,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Incyte by 122.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company's stock worth $54,116,000 after buying an additional 490,680 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on INCY shares. William Blair reaffirmed an "outperform" rating on shares of Incyte in a report on Monday, September 9th. Truist Financial reiterated a "hold" rating and issued a $74.00 target price (down previously from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Bank of America increased their price target on Incyte from $66.00 to $68.00 and gave the company a "neutral" rating in a report on Monday, September 16th. JPMorgan Chase & Co. increased their target price on shares of Incyte from $59.00 to $61.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. Finally, Oppenheimer dropped their price target on shares of Incyte from $84.00 to $81.00 and set an "outperform" rating for the company in a research note on Friday, July 26th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $73.83.

Incyte Stock Down 0.0 %

Incyte stock traded down $0.02 during midday trading on Tuesday, hitting $65.74. 1,010,335 shares of the company's stock were exchanged, compared to its average volume of 2,412,012. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92. The company has a market cap of $14.76 billion, a PE ratio of 20.04, a P/E/G ratio of 5.17 and a beta of 0.73. The firm has a 50-day moving average of $64.28 and a two-hundred day moving average of $60.35. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. As a group, analysts expect that Incyte Co. will post 0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now owns 24,825 shares in the company, valued at $1,562,485.50. 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 the SEC website. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the company's stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the transaction, the executive vice president now directly owns 36,701 shares of the company's stock, valued at $2,569,070. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas Tray sold 572 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares of the company's stock, valued at approximately $1,562,485.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,899 shares of company stock worth $1,736,746 in the last three months. 17.50% of the stock is owned by 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.