Incyte Corporation $INCY Shares Sold by Visionary Horizons LLC

Visionary Horizons LLC lessened its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 59.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,311 shares of the biopharmaceutical company’s stock after selling 6,388 shares during the quarter. Visionary Horizons LLC’s holdings in Incyte were worth $366,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Nova Scotia raised its stake in shares of Incyte by 0.7% during the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 124 shares in the last quarter. MAI Capital Management increased its stake in Incyte by 19.9% during the 2nd quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 125 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Incyte by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company’s stock worth $612,000 after buying an additional 147 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Incyte by 10.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 156 shares during the period. Finally, E Fund Management Co. Ltd. lifted its stake in shares of Incyte by 0.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 19,912 shares of the biopharmaceutical company’s stock worth $1,356,000 after acquiring an additional 158 shares during the period. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 3.7%

Shares of NASDAQ INCY opened at $110.57 on Thursday. The company has a quick ratio of 3.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $112.29. The company has a market cap of $21.71 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 0.64 and a beta of 0.82. The business has a fifty day simple moving average of $101.57 and a 200-day simple moving average of $87.69.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company earned $1.07 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. Sell-side analysts predict that Incyte Corporation will post 4.86 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Sheila A. Denton sold 598 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total value of $60,613.28. Following the completion of the sale, the executive vice president owned 26,569 shares in the company, valued at $2,693,033.84. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael James Morrissey sold 4,323 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $97.26, for a total value of $420,454.98. Following the completion of the sale, the executive vice president directly owned 27,507 shares of the company’s stock, valued at approximately $2,675,330.82. This trade represents a 13.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 88,318 shares of company stock worth $8,708,893 in the last quarter. Corporate insiders own 17.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Mizuho set a $121.00 price objective on shares of Incyte and gave the company an “outperform” rating in a research note on Monday, December 8th. Morgan Stanley lifted their price target on Incyte from $92.00 to $94.00 and gave the company an “equal weight” rating in a research report on Tuesday. Barclays upped their price objective on Incyte from $101.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Truist Financial set a $103.00 target price on Incyte in a report on Wednesday, December 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Incyte in a research report on Thursday. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $100.21.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.