Ellis Investment Partners LLC Has $1.34 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Ellis Investment Partners LLC decreased its stake in shares of Incyte Co. (NASDAQ:INCY) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,455 shares of the biopharmaceutical company’s stock after selling 301 shares during the period. Ellis Investment Partners LLC’s holdings in Incyte were worth $1,344,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in INCY. Creative Planning increased its position in shares of Incyte by 6.2% during the third quarter. Creative Planning now owns 22,366 shares of the biopharmaceutical company’s stock worth $1,478,000 after acquiring an additional 1,307 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 155 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Incyte during the third quarter worth $220,000. Assenagon Asset Management S.A. increased its position in shares of Incyte by 10.0% during the third quarter. Assenagon Asset Management S.A. now owns 6,674 shares of the biopharmaceutical company’s stock worth $441,000 after acquiring an additional 609 shares in the last quarter. Finally, Tectonic Advisors LLC increased its position in shares of Incyte by 1.6% during the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. The trade was a 16.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of Incyte 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 completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,695 shares of company stock worth $1,444,356. 17.60% of the stock is owned by insiders.

Incyte Stock Performance

NASDAQ INCY opened at $70.42 on Friday. The firm has a 50-day moving average of $71.26 and a 200-day moving average of $69.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The stock has a market cap of $13.63 billion, a PE ratio of 503.04, a P/E/G ratio of 0.53 and a beta of 0.70. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. On average, sell-side analysts anticipate that Incyte Co. will post 0.35 EPS for the current year.

Analysts Set New Price Targets

INCY has been the subject of several research reports. Oppenheimer increased their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup decreased their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Finally, Stifel Nicolaus raised their target price on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.59.

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.