Toronto Dominion Bank Sells 60,626 Shares of Incyte Co. (NASDAQ:INCY)

Toronto Dominion Bank lowered its stake in shares of Incyte Co. (NASDAQ:INCY) by 56.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,272 shares of the biopharmaceutical company’s stock after selling 60,626 shares during the quarter. Toronto Dominion Bank’s holdings in Incyte were worth $2,805,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of INCY. Wellington Management Group LLP increased its holdings in shares of Incyte by 48.8% during the 4th quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock worth $8,266,000 after purchasing an additional 43,160 shares during the period. Fulton Bank N.A. bought a new stake in shares of Incyte in the 1st quarter worth approximately $1,425,000. FORVIS Wealth Advisors LLC acquired a new stake in shares of Incyte during the 1st quarter worth approximately $1,495,000. ProShare Advisors LLC increased its position in shares of Incyte by 14.4% during the first quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock valued at $3,594,000 after purchasing an additional 7,925 shares during the period. Finally, Kennedy Capital Management LLC acquired a new position in shares of Incyte in the first quarter valued at $463,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Up 1.1 %

NASDAQ:INCY opened at $65.83 on Monday. The stock’s fifty day moving average price is $64.31 and its two-hundred day moving average price is $59.97. The company has a market cap of $14.78 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 5.17 and a beta of 0.73. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $70.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. Incyte’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, analysts anticipate that Incyte Co. will post 0.66 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on INCY. Royal Bank of Canada reissued a “sector perform” rating and issued a $67.00 price target on shares of Incyte in a report on Tuesday, September 3rd. Oppenheimer cut their price target 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. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their price target on Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and an average target price of $73.24.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 1,306 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Barry P. Flannelly sold 1,306 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total value of $83,832.14. Following the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $3,725,715.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the transaction, the executive vice president now owns 50,534 shares in the company, valued at $3,032,040. The disclosure for this sale can be found here. Insiders sold a total of 34,047 shares of company stock worth $2,225,626 in the last quarter. 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.