Hennion & Walsh Asset Management Inc. Acquires 11,120 Shares of Incyte Co. (NASDAQ:INCY)

Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 45.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,708 shares of the biopharmaceutical company’s stock after buying an additional 11,120 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Incyte were worth $2,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Contravisory Investment Management Inc. lifted its position in shares of Incyte by 50.1% during the fourth quarter. Contravisory Investment Management Inc. now owns 10,854 shares of the biopharmaceutical company’s stock worth $750,000 after acquiring an additional 3,625 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its position in Incyte by 2.8% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 178,922 shares of the biopharmaceutical company’s stock valued at $12,358,000 after buying an additional 4,869 shares during the period. Burney Co. grew its holdings in shares of Incyte by 7.3% in the fourth quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company’s stock worth $225,000 after purchasing an additional 223 shares during the last quarter. 180 Wealth Advisors LLC raised its position in Incyte by 3.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after purchasing an additional 195 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new position in Incyte during the 4th quarter valued at $1,006,000. 96.97% of the stock is owned by institutional investors.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 650 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,023 shares of company stock worth $839,711. Insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and increased their price target for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Citigroup upped their target price on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Incyte has a consensus rating of “Hold” and a consensus target price of $76.29.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $71.93 on Friday. The company’s fifty day moving average price is $72.36 and its 200 day moving average price is $67.92. The firm has a market capitalization of $13.86 billion, a P/E ratio of 513.82, a P/E/G ratio of 0.51 and a beta of 0.71. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

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

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.