Incyte Co. (NASDAQ:INCY) Stake Raised by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV boosted its holdings in Incyte Co. (NASDAQ:INCY) by 34.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,009 shares of the biopharmaceutical company’s stock after purchasing an additional 258 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Incyte were worth $61,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Incyte in the 4th quarter worth about $123,253,000. LSV Asset Management grew its stake in Incyte by 119.6% during the 4th quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock valued at $169,020,000 after acquiring an additional 1,465,792 shares in the last quarter. KBC Group NV grew its stake in Incyte by 842.2% during the 4th quarter. KBC Group NV now owns 955,749 shares of the biopharmaceutical company’s stock valued at $60,011,000 after acquiring an additional 854,311 shares in the last quarter. Swedbank AB purchased a new position in Incyte during the 1st quarter valued at about $37,440,000. Finally, Los Angeles Capital Management LLC grew its stake in Incyte by 37.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,570,296 shares of the biopharmaceutical company’s stock valued at $98,599,000 after acquiring an additional 424,934 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Insider Activity at Incyte

In other news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the transaction, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the sale, the insider now directly owns 21,634 shares in the company, valued at $1,274,458.94. The sale was disclosed in a 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 dated 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 in the company, valued at approximately $2,569,070. The disclosure for this sale can be found here. Insiders have sold a total of 45,282 shares of company stock valued at $2,876,911 over the last quarter. 17.50% of the stock is owned by company insiders.

Incyte Stock Performance

Shares of NASDAQ:INCY traded down $0.73 during trading on Tuesday, hitting $61.27. 2,397,338 shares of the stock were exchanged, compared to its average volume of 2,556,383. The company’s fifty day simple moving average is $61.98 and its 200-day simple moving average is $58.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 1.92. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. 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 results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. Sell-side analysts expect that Incyte Co. will post 3.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INCY has been the subject of several recent research reports. Oppenheimer lowered their price target on Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Royal Bank of Canada boosted their price target on Incyte from $61.00 to $66.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Citigroup boosted their price target on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America boosted their price target on Incyte from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Truist Financial reissued a “buy” rating and issued a $83.00 price target (down previously from $84.00) on shares of Incyte in a research note 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 company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.24.

Incyte Company 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.