CreativeOne Wealth LLC Buys New Position in Incyte Co. (NASDAQ:INCY)

CreativeOne Wealth LLC purchased a new position in shares of Incyte Co. (NASDAQ:INCY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,915 shares of the biopharmaceutical company’s stock, valued at approximately $457,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pacer Advisors Inc. increased its stake 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 worth $163,200,000 after buying an additional 2,676,851 shares during the period. Mizuho Securities USA LLC increased its position in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after acquiring an additional 1,985,726 shares during the period. AQR Capital Management LLC increased its holdings in Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the period. Acadian Asset Management LLC raised its position in Incyte by 28.0% in the 2nd 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Incyte by 122.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock worth $54,116,000 after acquiring an additional 490,680 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Incyte

In other news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,562,485.50. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’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 transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,702 shares of company stock valued at $856,166 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, November 14th. Guggenheim boosted their price objective on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Morgan Stanley increased their target price on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and upped their price objective for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Incyte currently has an average rating of “Hold” and a consensus price target of $77.16.

Incyte Trading Down 1.1 %

NASDAQ:INCY opened at $74.59 on Monday. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The stock has a fifty day moving average price of $70.76 and a two-hundred day moving average price of $65.22. The stock has a market capitalization of $14.37 billion, a price-to-earnings ratio of 532.82, a PEG ratio of 8.60 and a beta of 0.71.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. As a group, sell-side analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

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.