Crossmark Global Holdings Inc. Buys 24,899 Shares of Incyte Co. (NASDAQ:INCY)

Crossmark Global Holdings Inc. increased its position in shares of Incyte Co. (NASDAQ:INCY) by 99.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,978 shares of the biopharmaceutical company’s stock after acquiring an additional 24,899 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Incyte were worth $3,452,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Incyte in the 3rd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Incyte during the third quarter worth about $33,000. Cromwell Holdings LLC grew its stake in Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 283 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Incyte in the third quarter worth about $45,000. Finally, Itau Unibanco Holding S.A. raised its position in shares of Incyte by 63.4% during the third quarter. Itau Unibanco Holding S.A. now owns 974 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 378 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BMO Capital Markets reaffirmed an “underperform” rating and issued a $52.00 price target (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price target on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their price objective on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. UBS Group assumed coverage on Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. Finally, StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $76.29.

Insider Buying and Selling at Incyte

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,375 shares of company stock valued at $1,737,578 in the last quarter. 17.60% of the stock is currently owned by insiders.

Incyte Trading Down 1.4 %

Shares of NASDAQ:INCY opened at $72.41 on Thursday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The company has a market capitalization of $13.95 billion, a P/E ratio of 517.25, a price-to-earnings-growth ratio of 0.52 and a beta of 0.71. The company has a 50-day simple moving average of $72.02 and a 200 day simple moving average of $68.27.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (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 analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. Sell-side analysts forecast that Incyte Co. will post 0.4 earnings per share for the current year.

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.