180 Wealth Advisors LLC Boosts Stock Holdings in Incyte Co. (NASDAQ:INCY)

180 Wealth Advisors LLC increased its position in Incyte Co. (NASDAQ:INCYFree Report) by 23.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,560 shares of the biopharmaceutical company’s stock after buying an additional 870 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Incyte were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Street Markets LLC grew its holdings in shares of Incyte by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust lifted its position in Incyte by 91.0% during the first quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 213 shares in the last quarter. Glassman Wealth Services grew its stake in Incyte by 49.9% during the second quarter. Glassman Wealth Services now owns 640 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 213 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Incyte by 132.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 757 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 432 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its position in shares of Incyte by 1,458.0% in the second quarter. Salem Investment Counselors Inc. now owns 779 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 729 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on INCY shares. The Goldman Sachs Group cut shares of Incyte from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $98.00 to $65.00 in a research report on Tuesday, November 21st. Royal Bank of Canada reduced their price target on Incyte from $74.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 1st. SVB Leerink raised shares of Incyte from a “market perform” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Wednesday, December 13th. Mizuho decreased their price objective on shares of Incyte from $82.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, December 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $91.00 target price on shares of Incyte in a research report on Wednesday, November 29th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.11.

Read Our Latest Report on INCY

Incyte Stock Up 0.2 %

Shares of NASDAQ:INCY opened at $61.48 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 3.91. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $86.29. The company’s fifty day moving average is $58.98 and its two-hundred day moving average is $60.20. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 0.84 and a beta of 0.76.

Incyte (NASDAQ:INCYGet Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.91 EPS for the quarter, hitting analysts’ consensus estimates of $0.91. The firm had revenue of $919.03 million during the quarter, compared to the consensus estimate of $973.32 million. Incyte had a return on equity of 11.21% and a net margin of 11.78%. Equities analysts anticipate that Incyte Co. will post 2.97 EPS for the current year.

Insider Buying and Selling

In other Incyte news, EVP Vijay K. Iyengar sold 657 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $65.00, for a total transaction of $42,705.00. Following the completion of the transaction, the executive vice president now directly owns 43,412 shares of the company’s stock, valued at approximately $2,821,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.50% of the company’s stock.

About Incyte

(Free Report)

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, Europe, Japan, and internationally. The company offers JAKAFI (ruxolitinib), for the treatment of adults with intermediate or high-risk myelofibrosis; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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