Captrust Financial Advisors Buys 14,382 Shares of Incyte Co. (NASDAQ:INCY)

Captrust Financial Advisors grew its stake in Incyte Co. (NASDAQ:INCY) by 248.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,166 shares of the biopharmaceutical company’s stock after purchasing an additional 14,382 shares during the quarter. Captrust Financial Advisors’ holdings in Incyte were worth $1,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Incyte during the fourth quarter worth approximately $121,890,000. AQR Capital Management LLC increased its stake in shares of Incyte by 29.7% during the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company’s stock worth $241,519,000 after purchasing an additional 801,090 shares during the period. Sound Shore Management Inc. CT boosted its stake in Incyte by 98.4% in the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company’s stock valued at $82,959,000 after purchasing an additional 595,741 shares during the period. Pictet Asset Management Holding SA boosted its stake in Incyte by 73.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company’s stock valued at $90,749,000 after purchasing an additional 556,218 shares during the period. Finally, LSV Asset Management boosted its stake in Incyte by 18.6% in the 4th quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company’s stock valued at $239,500,000 after purchasing an additional 544,080 shares during the period. Institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Wells Fargo & Company boosted their price target on Incyte from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Truist Financial cut their price target on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Stifel Nicolaus raised their price objective on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, Citigroup cut their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Incyte currently has an average rating of “Hold” and a consensus price target of $73.53.

Incyte Trading Up 0.6%

Shares of INCY opened at $61.16 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a 52-week low of $53.56 and a 52-week high of $83.95. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 226.53, a PEG ratio of 0.41 and a beta of 0.68. The business’s fifty day moving average is $60.75 and its 200-day moving average is $68.56.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,475 shares of company stock valued at $2,424,751. 17.80% of the stock is currently 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.