Signaturefd LLC Purchases 451 Shares of Incyte Co. (NASDAQ:INCY)

Signaturefd LLC lifted its position in shares of Incyte Co. (NASDAQ:INCY) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,611 shares of the biopharmaceutical company’s stock after acquiring an additional 451 shares during the quarter. Signaturefd LLC’s holdings in Incyte were worth $219,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. purchased a new stake in shares of Incyte during the fourth quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in Incyte during the 2nd quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new position in Incyte in the 1st quarter worth about $28,000. Riverview Trust Co purchased a new position in Incyte during the 1st quarter valued at about $29,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Incyte during the first quarter valued at about $32,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 0.4 %

INCY opened at $65.66 on Monday. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $63.21 and its 200-day moving average price is $59.27. The company has a market cap of $12.65 billion, a P/E ratio of 19.90, a P/E/G ratio of 5.23 and a beta of 0.73.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. Incyte’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. On average, equities analysts expect that Incyte Co. will post 0.67 EPS for the current year.

Analysts Set New Price Targets

INCY has been the subject of several recent analyst reports. Oppenheimer reduced their price objective on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. BMO Capital Markets reaffirmed an “underperform” rating and issued a $48.00 price target (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Bank of America lifted their price target on Incyte from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.29.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 1,093 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the transaction, the insider now directly owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The sale 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 firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares in the company, valued at $3,982,620. The disclosure for this sale can be found here. Insiders have sold a total of 45,282 shares of company stock valued at $2,876,911 over the last three months. 17.50% of the stock is owned by company insiders.

About Incyte

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.