Incyte Corporation $INCY Stock Position Decreased by Ashford Capital Management Inc.

Ashford Capital Management Inc. decreased its position in Incyte Corporation (NASDAQ:INCY) by 20.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 146,400 shares of the biopharmaceutical company’s stock after selling 38,210 shares during the quarter. Ashford Capital Management Inc. owned about 0.07% of Incyte worth $9,970,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Czech National Bank increased its position in Incyte by 6.4% in the 2nd quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock worth $2,674,000 after buying an additional 2,378 shares during the period. denkapparat Operations GmbH grew its stake in shares of Incyte by 46.1% in the second quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock worth $769,000 after acquiring an additional 3,564 shares during the last quarter. Hussman Strategic Advisors Inc. increased its position in Incyte by 20.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock worth $4,290,000 after acquiring an additional 10,500 shares during the period. Strid Group LLC acquired a new position in Incyte during the 2nd quarter valued at $999,000. Finally, Fisher Asset Management LLC boosted its holdings in Incyte by 74.6% in the 2nd quarter. Fisher Asset Management LLC now owns 29,922 shares of the biopharmaceutical company’s stock valued at $2,038,000 after purchasing an additional 12,785 shares during the period. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 0.7%

Shares of NASDAQ:INCY opened at $95.41 on Friday. The company has a quick ratio of 3.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. The firm has a market cap of $18.73 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.65 and a beta of 0.81. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $109.28. The company’s 50-day moving average price is $96.92 and its two-hundred day moving average price is $83.58.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Oppenheimer downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Stifel Nicolaus boosted their price target on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. upped their price target on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Bank of America lifted their price objective on Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Finally, Morgan Stanley upped their target price on Incyte from $86.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, December 8th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $99.07.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Sheila A. Denton sold 598 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of the sale, the executive vice president owned 26,569 shares in the company, valued at approximately $2,693,033.84. The trade was a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were 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 owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This represents a 9.51% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 26,891 shares of company stock worth $2,720,766. Insiders own 17.80% of the company’s stock.

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.