Incyte Co. (NASDAQ:INCY) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in Incyte Co. (NASDAQ:INCY) by 13.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 167,764 shares of the biopharmaceutical company’s stock after selling 26,972 shares during the period. Bank of Montreal Can owned about 0.09% of Incyte worth $11,587,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of INCY. Retirement Systems of Alabama raised its position in Incyte by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after acquiring an additional 139 shares in the last quarter. Trust Point Inc. boosted its holdings in Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after buying an additional 156 shares in the last quarter. Mather Group LLC. grew its position in Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 173 shares during the period. 180 Wealth Advisors LLC lifted its position in shares of Incyte by 3.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after acquiring an additional 195 shares during the period. Finally, Catalyst Financial Partners LLC boosted its stake in shares of Incyte by 2.7% during the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock worth $518,000 after acquiring an additional 200 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INCY has been the subject of several research reports. Truist Financial reduced their price objective on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Citigroup decreased their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company lifted their target price on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target on the stock. in a report on Tuesday, March 18th. Finally, JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.88.

Incyte Price Performance

INCY opened at $56.87 on Friday. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The company’s 50 day simple moving average is $66.19 and its 200 day simple moving average is $69.59. The stock has a market capitalization of $11.01 billion, a PE ratio of 210.64, a P/E/G ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, sell-side analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Insider Activity

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $2,272,150.23. This represents a 37.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock worth $3,322,618 over the last 90 days. Company insiders own 17.60% 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.