Northwest & Ethical Investments L.P. Sells 6,462 Shares of Incyte Co. (NASDAQ:INCY)

Northwest & Ethical Investments L.P. lessened its stake in Incyte Co. (NASDAQ:INCY) by 17.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,764 shares of the biopharmaceutical company’s stock after selling 6,462 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Incyte were worth $2,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Public Sector Pension Investment Board lifted its stake in shares of Incyte by 4.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 6,622 shares of the biopharmaceutical company’s stock valued at $438,000 after acquiring an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Incyte by 30.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 160,415 shares of the biopharmaceutical company’s stock valued at $10,603,000 after acquiring an additional 37,132 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Incyte during the 3rd quarter valued at approximately $457,000. Bridgewater Associates LP raised its position in Incyte by 142.8% during the 3rd quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock valued at $20,401,000 after purchasing an additional 181,504 shares during the last quarter. Finally, Freedom Investment Management Inc. bought a new position in Incyte during the 3rd quarter valued at approximately $1,064,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 1.1 %

INCY stock opened at $74.59 on Friday. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a market cap of $14.37 billion, a PE ratio of 532.82, a price-to-earnings-growth ratio of 8.70 and a beta of 0.71. The business has a 50 day moving average of $70.76 and a 200 day moving average of $65.11.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. On average, research analysts forecast that Incyte Co. will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at $2,269,280.40. The trade was a 18.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,702 shares of company stock valued at $856,166. Corporate insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

INCY has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their price target on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price target on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, November 14th. Truist Financial reaffirmed a “hold” rating and set a $74.00 price target (down previously from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Finally, William Blair restated an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.16.

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.