Nisa Investment Advisors LLC Sells 41,977 Shares of Incyte Co. (NASDAQ:INCY)

Nisa Investment Advisors LLC decreased its position in Incyte Co. (NASDAQ:INCY) by 56.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,858 shares of the biopharmaceutical company’s stock after selling 41,977 shares during the period. Nisa Investment Advisors LLC’s holdings in Incyte were worth $1,931,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Moody National Bank Trust Division raised its stake in shares of Incyte by 1.3% in the second quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 179 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Incyte by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock valued at $2,773,000 after buying an additional 187 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Incyte by 4.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock worth $271,000 after acquiring an additional 204 shares during the period. Berger Financial Group Inc boosted its position in shares of Incyte by 0.4% during the 4th quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock valued at $3,797,000 after acquiring an additional 212 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in Incyte by 3.7% in the first quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock valued at $364,000 after acquiring an additional 230 shares during the period. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on INCY shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their target price on Incyte from $66.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 15th. BMO Capital Markets reiterated an “underperform” rating and set a $48.00 price objective (down from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Truist Financial reissued a “buy” rating and set a $83.00 price target (down from $84.00) on shares of Incyte in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $73.29.

Incyte Stock Down 0.4 %

Shares of NASDAQ INCY opened at $64.15 on Thursday. The company has a current ratio of 1.92, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $14.40 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The firm’s 50-day moving average is $62.82 and its 200-day moving average is $58.93. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $70.36.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. Incyte’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 earnings per share. Equities analysts expect that Incyte Co. will post 3.35 EPS for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the sale, the executive vice president now directly owns 36,701 shares in the company, valued at $2,569,070. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the transaction, the executive vice president now owns 66,377 shares of the company’s stock, valued at $3,982,620. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the sale, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,282 shares of company stock valued at $2,876,911. 17.50% of the stock is currently owned by company insiders.

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.