EverSource Wealth Advisors LLC Acquires 787 Shares of Incyte Co. (NASDAQ:INCY)

EverSource Wealth Advisors LLC raised its holdings in shares of Incyte Co. (NASDAQ:INCY) by 161.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,275 shares of the biopharmaceutical company’s stock after acquiring an additional 787 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Incyte were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of INCY. Quintet Private Bank Europe S.A. bought a new stake in Incyte during the 4th quarter valued at $26,000. Global X Japan Co. Ltd. raised its holdings in Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares during the period. Brooklyn Investment Group bought a new stake in Incyte during the 3rd quarter valued at $30,000. R Squared Ltd bought a new stake in Incyte during the 4th quarter valued at $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Incyte during the 3rd quarter valued at $33,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

NASDAQ INCY opened at $60.00 on Wednesday. The company has a 50-day simple moving average of $71.29 and a two-hundred day simple moving average of $70.27. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of 222.23, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. On average, equities analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday. Guggenheim cut shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target on the stock. in a report on Tuesday. Wells Fargo & Company upped their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. William Blair cut shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.13.

Insider Buying and Selling at Incyte

In other news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock worth $3,322,618 over the last three months. Company insiders own 17.60% of the company’s stock.

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.