SG Americas Securities LLC Decreases Stake in Incyte Co. (NASDAQ:INCY)

SG Americas Securities LLC reduced its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 59.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,444 shares of the biopharmaceutical company's stock after selling 40,492 shares during the quarter. SG Americas Securities LLC's holdings in Incyte were worth $1,814,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. MFA Wealth Advisors LLC bought a new position in shares of Incyte during the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Incyte in the first quarter worth $28,000. Riverview Trust Co acquired a new position in Incyte in the first quarter valued at $29,000. Innealta Capital LLC acquired a new position in Incyte in the second quarter valued at $32,000. Finally, Fidelis Capital Partners LLC acquired a new position in Incyte in the first quarter valued at $32,000. 96.97% of the stock is owned by institutional investors.

Incyte Stock Performance

Shares of INCY stock traded up $0.02 during trading hours on Wednesday, reaching $65.76. The company had a trading volume of 1,017,802 shares, compared to its average volume of 2,404,863. The business has a fifty day moving average price of $64.24 and a 200-day moving average price of $60.41. Incyte Co. has a one year low of $50.27 and a one year high of $70.36. The firm has a market cap of $14.77 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92.

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

Insiders Place Their Bets

In other news, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, 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 value of $36,001.68. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,899 shares of company stock worth $1,736,746 over the last three months. 17.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INCY. Truist Financial reiterated a "hold" rating and set a $74.00 price objective (down previously from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Wolfe Research initiated coverage on shares of Incyte in a report on Tuesday, October 1st. They set an "outperform" rating and a $84.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Thursday, August 1st. BMO Capital Markets reaffirmed an "underperform" rating and issued a $48.00 price objective (down from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research report on Monday, September 16th. One investment 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $73.83.

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.