Janney Montgomery Scott LLC Sells 2,814 Shares of Incyte Co. (NASDAQ:INCY)

Janney Montgomery Scott LLC lessened its holdings in Incyte Co. (NASDAQ:INCY) by 9.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,556 shares of the biopharmaceutical company’s stock after selling 2,814 shares during the period. Janney Montgomery Scott LLC’s holdings in Incyte were worth $1,755,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Incyte by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock worth $1,294,120,000 after purchasing an additional 196,440 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Incyte by 28.0% in the 2nd 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 during the period. LSV Asset Management lifted its stake in shares of Incyte by 0.5% in the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after purchasing an additional 15,115 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Incyte by 17,460.4% in the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after purchasing an additional 2,676,851 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the period. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on INCY shares. JPMorgan Chase & Co. increased their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Guggenheim increased their target price on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Oppenheimer increased their target price on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Finally, Wolfe Research started coverage on shares of Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.74.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Incyte news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at $2,269,280.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,702 shares of company stock valued at $856,166 over the last three months. 17.60% of the stock is owned by company insiders.

Incyte Trading Down 0.1 %

Shares of INCY opened at $80.48 on Thursday. The company’s fifty day moving average is $68.08 and its 200 day moving average is $63.36. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The stock has a market capitalization of $15.50 billion, a PE ratio of 574.90, a P/E/G ratio of 9.29 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

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

Incyte 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.