Inspire Investing LLC Sells 933 Shares of Incyte Co. (NASDAQ:INCY)

Inspire Investing LLC cut its holdings in Incyte Co. (NASDAQ:INCY) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,641 shares of the biopharmaceutical company’s stock after selling 933 shares during the period. Inspire Investing LLC’s holdings in Incyte were worth $1,426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INCY. Point72 Asset Management L.P. bought a new stake in Incyte during the 3rd quarter worth approximately $156,611,000. Mizuho Securities USA LLC increased its stake in shares of Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after purchasing an additional 1,985,726 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Incyte by 70.5% during the 2nd 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 during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Incyte by 2,486.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock valued at $23,923,000 after buying an additional 379,390 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Incyte by 29.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after buying an additional 364,169 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 0.2 %

Shares of INCY stock opened at $72.53 on Friday. The company has a market cap of $13.97 billion, a PE ratio of 518.11, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The stock’s 50 day simple moving average is $71.86 and its two-hundred day simple moving average is $68.30. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95.

Incyte (NASDAQ:INCY) last released its quarterly 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). The company had revenue of $1.14 billion for 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 quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. Research analysts predict that Incyte Co. will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on INCY shares. Morgan Stanley raised their price target on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of Incyte in a research note on Thursday. The Goldman Sachs Group lifted their price objective on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their target price on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.71.

Insider Activity

In other news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the sale, the insider now directly owns 23,962 shares of the company’s stock, valued at $1,692,675.68. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,375 shares of company stock valued at $1,737,578. 17.60% of the stock is currently owned by company insiders.

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.