Snowden Capital Advisors LLC Boosts Stake in Incyte Co. (NASDAQ:INCY)

Snowden Capital Advisors LLC lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 38.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,472 shares of the biopharmaceutical company’s stock after purchasing an additional 1,526 shares during the period. Snowden Capital Advisors LLC’s holdings in Incyte were worth $378,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of INCY. Barclays PLC lifted its position in shares of Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock worth $68,208,000 after purchasing an additional 77,542 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of Incyte during the fourth quarter worth about $624,000. Ballentine Partners LLC lifted its position in shares of Incyte by 14.3% during the fourth quarter. Ballentine Partners LLC now owns 5,335 shares of the biopharmaceutical company’s stock worth $368,000 after purchasing an additional 666 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Incyte by 99.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 49,978 shares of the biopharmaceutical company’s stock worth $3,452,000 after purchasing an additional 24,899 shares during the last quarter. Finally, Advisory Alpha LLC lifted its position in shares of Incyte by 9.0% during the fourth quarter. Advisory Alpha LLC now owns 7,890 shares of the biopharmaceutical company’s stock worth $545,000 after purchasing an additional 650 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $64.78 on Thursday. The firm’s 50 day moving average is $60.30 and its two-hundred day moving average is $68.26. Incyte Co. has a 52 week low of $53.56 and a 52 week high of $83.95. The firm has a market capitalization of $12.54 billion, a P/E ratio of 239.93, a PEG ratio of 0.41 and a beta of 0.68. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.01 by $0.15. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same quarter last year, the business earned $0.64 earnings per share. Incyte’s revenue was up 19.5% compared to the same quarter last year. Analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Truist Financial dropped their price objective on shares of Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. William Blair lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. Citigroup dropped their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company increased their price objective on shares of Incyte from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.53.

Insider Activity

In other news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This trade represents a 37.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,475 shares of company stock worth $2,424,751 over the last three months. Corporate insiders own 17.80% 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.