Anchor Investment Management LLC Sells 200 Shares of Incyte Co. (NASDAQ:INCY)

Anchor Investment Management LLC lessened its position in shares of Incyte Co. (NASDAQ:INCY) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,450 shares of the biopharmaceutical company’s stock after selling 200 shares during the quarter. Anchor Investment Management LLC’s holdings in Incyte were worth $162,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC increased its position in shares of Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after purchasing an additional 779,243 shares in the last quarter. LSV Asset Management increased its position in Incyte by 0.5% during the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock valued at $167,911,000 after buying an additional 15,115 shares in the last quarter. Pacer Advisors Inc. increased its position 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 valued at $163,200,000 after buying an additional 2,676,851 shares in the last quarter. AQR Capital Management LLC raised its stake in Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after buying an additional 1,101,041 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Incyte in the third quarter worth about $156,611,000. Institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INCY has been the subject of several research analyst reports. Guggenheim increased their price objective on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and raised their price target for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. BMO Capital Markets reiterated an “underperform” rating and set a $52.00 price objective (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Citigroup upped their target price on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price target on Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.18.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $68.55 on Friday. 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 company’s fifty day moving average price is $72.14 and its 200 day moving average price is $66.18. The company has a market capitalization of $13.21 billion, a PE ratio of 489.64, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.91 earnings per share. Incyte’s revenue was up 23.8% on a year-over-year basis. On average, research analysts predict that Incyte Co. will post 0.4 earnings per share for the current 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.