Wealth Enhancement Advisory Services LLC Buys 1,146 Shares of Incyte Co. (NASDAQ:INCY)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Incyte Co. (NASDAQ:INCYFree Report) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,944 shares of the biopharmaceutical company’s stock after buying an additional 1,146 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Incyte were worth $566,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Cape Investment Advisory Inc. bought a new stake in Incyte during the fourth quarter worth $25,000. Larson Financial Group LLC grew its holdings in Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Incyte in the 4th quarter valued at $31,000. Riverview Trust Co bought a new position in Incyte in the 1st quarter valued at $29,000. Finally, EverSource Wealth Advisors LLC grew its stake in Incyte by 597.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 635 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 544 shares during the period. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $60.73 on Thursday. The stock’s 50-day simple moving average is $58.53 and its 200 day simple moving average is $58.56. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.25 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $67.36.

Incyte (NASDAQ:INCYGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The business had revenue of $880.89 million during the quarter, compared to analysts’ expectations of $935.85 million. Research analysts forecast that Incyte Co. will post 3.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INCY shares. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Tuesday, June 18th. Truist Financial restated a “buy” rating and issued a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. BMO Capital Markets restated an “underperform” rating and issued a $48.00 price objective (down previously from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Finally, TD Cowen dropped their price target on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.44.

Read Our Latest Stock Report on Incyte

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the sale, the insider now owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Incyte news, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the sale, the insider now owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the transaction, the executive vice president now owns 66,377 shares in the company, valued at $3,982,620. The disclosure for this sale can be found here. 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 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.

Further Reading

Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCYFree Report).

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.