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

Bank of Montreal Can decreased its position in Incyte Co. (NASDAQ:INCY) by 13.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,764 shares of the biopharmaceutical company’s stock after selling 26,972 shares during the quarter. Bank of Montreal Can’s holdings in Incyte were worth $11,587,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Quintet Private Bank Europe S.A. acquired a new position in Incyte in the fourth quarter worth $26,000. Global X Japan Co. Ltd. lifted its position in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the last quarter. R Squared Ltd bought a new position in shares of Incyte in the 4th quarter worth about $30,000. Blue Trust Inc. boosted its holdings in shares of Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 329 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Incyte during the 4th quarter valued at about $42,000. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction 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 approximately $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,827 shares of company stock valued at $3,322,618. Corporate insiders own 17.60% of the company’s stock.

Incyte Price Performance

NASDAQ:INCY opened at $56.87 on Friday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.01 billion, a P/E ratio of 210.64, a PEG ratio of 0.41 and a beta of 0.89. The business’s 50-day moving average price is $66.19 and its 200 day moving average price is $69.59.

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

Wall Street Analyst Weigh In

INCY has been the topic of a number of recent research reports. Citigroup cut their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company raised their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Truist Financial cut their target price on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus boosted their price target on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.88.

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.