Amalgamated Bank Increases Stock Holdings in Incyte Co. (NASDAQ:INCY)

Amalgamated Bank raised its stake in Incyte Co. (NASDAQ:INCYGet Rating) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,046 shares of the biopharmaceutical company’s stock after purchasing an additional 1,350 shares during the quarter. Amalgamated Bank’s holdings in Incyte were worth $3,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in shares of Incyte by 91.0% in 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 boosted its stake in shares of Incyte by 52.1% in the fourth quarter. Glassman Wealth Services now owns 502 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 172 shares in the last quarter. Ellevest Inc. boosted its stake in shares of Incyte by 210.1% in the first quarter. Ellevest Inc. now owns 673 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 456 shares in the last quarter. CKW Financial Group boosted its stake in shares of Incyte by 33.3% in the first quarter. CKW Financial Group now owns 800 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 200 shares in the last quarter. Finally, Tobam boosted its stake in shares of Incyte by 53.3% in the first quarter. Tobam now owns 892 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 310 shares in the last quarter. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Incyte

In related news, insider Thomas Tray sold 1,564 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $83.13, for a total value of $130,015.32. Following the completion of the transaction, the insider now directly owns 17,702 shares in the company, valued at $1,471,567.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Thomas Tray sold 1,564 shares of the company’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $83.13, for a total value of $130,015.32. Following the completion of the sale, the insider now owns 17,702 shares of the company’s stock, valued at $1,471,567.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vijay K. Iyengar sold 5,787 shares of the company’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $79.38, for a total value of $459,372.06. Following the completion of the sale, the executive vice president now directly owns 40,313 shares of the company’s stock, valued at approximately $3,200,045.94. The disclosure for this sale can be found here. Insiders own 17.50% of the company’s stock.

Incyte Stock Performance

NASDAQ INCY opened at $66.83 on Thursday. Incyte Co. has a fifty-two week low of $61.91 and a fifty-two week high of $84.86. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 1.12 and a beta of 0.66. The business has a fifty day moving average of $73.84 and a 200-day moving average of $75.41. The company has a quick ratio of 3.85, a current ratio of 3.91 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCYGet Rating) last released its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.79 by $0.22. The firm had revenue of $911.40 million during the quarter, compared to analyst estimates of $818.25 million. Incyte had a return on equity of 13.02% and a net margin of 28.46%. The business’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, analysts predict that Incyte Co. will post 2.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INCY has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on Incyte from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 3rd. Guggenheim downgraded Incyte to a “neutral” rating in a research report on Tuesday, August 9th. SVB Leerink boosted their target price on Incyte from $58.00 to $63.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 20th. TheStreet downgraded Incyte from a “b” rating to a “c+” rating in a research report on Monday, August 22nd. Finally, Wells Fargo & Company initiated coverage on Incyte in a research report on Thursday, July 28th. They set an “equal weight” rating and a $76.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $84.92.

Incyte Profile

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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, 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

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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