Palouse Capital Management Inc. Trims Stake in Incyte Co. (NASDAQ:INCY)

Palouse Capital Management Inc. reduced its position in shares of Incyte Co. (NASDAQ:INCY) by 1.1% during the 4th quarter, HoldingsChannel reports. The firm owned 18,882 shares of the biopharmaceutical company’s stock after selling 219 shares during the period. Palouse Capital Management Inc.’s holdings in Incyte were worth $1,304,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of INCY. Newman Dignan & Sheerar Inc. boosted its position in Incyte by 4.0% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 5,222 shares of the biopharmaceutical company’s stock valued at $361,000 after acquiring an additional 200 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in Incyte by 2.7% during the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock valued at $518,000 after acquiring an additional 200 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Incyte by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 89,284 shares of the biopharmaceutical company’s stock valued at $6,181,000 after acquiring an additional 397 shares in the last quarter. Van ECK Associates Corp boosted its position in Incyte by 38.6% during the 4th quarter. Van ECK Associates Corp now owns 186,899 shares of the biopharmaceutical company’s stock valued at $12,909,000 after acquiring an additional 52,018 shares in the last quarter. Finally, Savant Capital LLC boosted its position in Incyte by 304.8% during the 4th quarter. Savant Capital LLC now owns 52,792 shares of the biopharmaceutical company’s stock valued at $3,646,000 after acquiring an additional 39,749 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In related news, 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 completion of the transaction, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the transaction, the insider now owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,695 shares of company stock worth $1,444,356. Insiders own 17.60% of the company’s stock.

Incyte Stock Performance

NASDAQ INCY opened at $70.42 on Friday. The stock has a 50-day simple moving average of $71.26 and a two-hundred day simple moving average of $69.18. The firm has a market capitalization of $13.57 billion, a P/E ratio of 503.04, a PEG ratio of 0.53 and a beta of 0.70. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two 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.

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 analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. On average, equities analysts forecast that Incyte Co. will post 0.35 earnings per share for the current year.

Analysts Set New Price Targets

INCY has been the topic of several recent research reports. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and increased their target price for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised 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. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, William Blair reissued an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $75.59.

Incyte 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.