3,302 Shares in Incyte Co. (NASDAQ:INCY) Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc bought a new position in shares of Incyte Co. (NASDAQ:INCYGet Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,302 shares of the biopharmaceutical company’s stock, valued at approximately $262,000.

Several other large investors have also recently added to or reduced their stakes in INCY. AlphaMark Advisors LLC acquired a new stake in Incyte during the fourth quarter worth about $35,000. Glassman Wealth Services increased its stake in Incyte by 52.1% during the fourth quarter. Glassman Wealth Services now owns 502 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 172 shares during the last quarter. Desjardins Global Asset Management Inc. acquired a new stake in Incyte during the fourth quarter worth about $43,000. National Bank of Canada FI acquired a new stake in Incyte during the fourth quarter worth about $44,000. Finally, CWM LLC acquired a new stake in Incyte during the fourth quarter worth about $51,000. 92.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on INCY. TheStreet lowered Incyte from a “b” rating to a “c” rating in a research note on Tuesday, May 3rd. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 14th. Stifel Nicolaus increased their target price on Incyte from $75.00 to $77.00 in a research note on Tuesday, May 3rd. Morgan Stanley increased their target price on Incyte from $73.00 to $76.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 20th. Finally, SVB Leerink increased their target price on Incyte from $58.00 to $63.00 and gave the company an “underperform” rating in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.55.

Insiders Place Their Bets

In related news, insider Thomas Tray sold 1,564 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $83.13, for a total value of $130,015.32. Following the sale, the insider now owns 17,702 shares of the company’s stock, valued at approximately $1,471,567.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Vijay K. Iyengar sold 5,787 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $79.38, for a total value of $459,372.06. Following the sale, the executive vice president now owns 40,313 shares of the company’s stock, valued at approximately $3,200,045.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 1,564 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $83.13, for a total value of $130,015.32. Following the completion of the sale, the insider now directly owns 17,702 shares in the company, valued at approximately $1,471,567.26. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by company insiders.

Incyte Trading Down 6.2 %

NASDAQ:INCY opened at $72.58 on Wednesday. The company has a quick ratio of 3.67, a current ratio of 3.71 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $76.42 and its two-hundred day moving average is $75.27. Incyte Co. has a 52 week low of $61.91 and a 52 week high of $84.86. The company has a market cap of $16.08 billion, a PE ratio of 17.28, a P/E/G ratio of 0.93 and a beta of 0.64.

Incyte (NASDAQ:INCYGet Rating) last released its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.22. Incyte had a return on equity of 12.77% and a net margin of 29.95%. The company had revenue of $911.40 million for the quarter, compared to the consensus estimate of $818.25 million. During the same quarter last year, the business posted $0.65 EPS. Incyte’s quarterly revenue was up 29.1% compared to the same quarter last year. On average, analysts predict that Incyte Co. will post 2.31 EPS for the current year.

Incyte Profile

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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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