First Trust Advisors LP Sells 12,101 Shares of Incyte Corporation $INCY

First Trust Advisors LP reduced its position in shares of Incyte Corporation (NASDAQ:INCY) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 761,227 shares of the biopharmaceutical company’s stock after selling 12,101 shares during the quarter. First Trust Advisors LP owned approximately 0.39% of Incyte worth $51,840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in INCY. Cetera Investment Advisers increased its position in shares of Incyte by 10.2% in the first quarter. Cetera Investment Advisers now owns 14,644 shares of the biopharmaceutical company’s stock valued at $887,000 after acquiring an additional 1,356 shares during the period. Vanguard Group Inc. grew its stake in shares of Incyte by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company’s stock worth $1,210,868,000 after purchasing an additional 417,346 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new position in Incyte during the 1st quarter valued at about $349,000. Charles Schwab Investment Management Inc. raised its position in Incyte by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,682,029 shares of the biopharmaceutical company’s stock valued at $101,847,000 after purchasing an additional 38,962 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Incyte by 9.4% in the 1st quarter. Deutsche Bank AG now owns 1,286,529 shares of the biopharmaceutical company’s stock worth $77,899,000 after buying an additional 110,392 shares during the period. Institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

In other Incyte news, EVP Steven H. Stein sold 20,105 shares of Incyte stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the completion of the transaction, the executive vice president owned 63,129 shares in the company, valued at approximately $6,471,353.79. The trade was a 24.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Heeson sold 3,074 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the sale, the executive vice president directly owned 29,241 shares in the company, valued at $2,749,238.82. This trade represents a 9.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,891 shares of company stock valued at $2,720,766 in the last 90 days. Corporate insiders own 17.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Incyte from $101.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Zacks Research cut shares of Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Incyte currently has an average rating of “Hold” and an average target price of $93.85.

Incyte Trading Up 2.1%

Shares of NASDAQ INCY opened at $102.52 on Monday. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $109.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13. The firm has a 50-day moving average of $95.92 and a 200 day moving average of $82.61. The stock has a market cap of $20.13 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 0.70 and a beta of 0.81.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.61. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts expect that Incyte Corporation will post 4.86 EPS 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.