GraniteShares Advisors LLC Sells 347 Shares of Incyte Co. (NASDAQ:INCY)

GraniteShares Advisors LLC reduced its holdings in shares of Incyte Co. (NASDAQ:INCY) by 4.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,567 shares of the biopharmaceutical company’s stock after selling 347 shares during the period. GraniteShares Advisors LLC’s holdings in Incyte were worth $475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. lifted its stake in Incyte by 4.8% in the first quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 150 shares during the period. Clear Street Markets LLC boosted its stake in shares of Incyte by 93.6% during the first quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 175 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of Incyte by 2.8% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,616 shares of the biopharmaceutical company’s stock valued at $441,000 after purchasing an additional 183 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Incyte by 1.2% during the third quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company’s stock worth $964,000 after buying an additional 195 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in Incyte by 1.2% during the first quarter. Gabelli Funds LLC now owns 16,500 shares of the biopharmaceutical company’s stock worth $1,310,000 after buying an additional 200 shares during the period. 96.97% of the stock is owned by institutional investors.

Incyte Stock Up 0.5 %

INCY stock opened at $53.49 on Wednesday. The firm has a market cap of $12.01 billion, a PE ratio of 20.08, a PEG ratio of 1.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55. The firm’s 50 day moving average price is $57.75 and its 200-day moving average price is $58.03. Incyte Co. has a one year low of $50.27 and a one year high of $75.74.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts anticipate that Incyte Co. will post 3.84 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on INCY shares. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Stifel Nicolaus increased their price target on Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research report on Wednesday, February 14th. JMP Securities cut Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. BMO Capital Markets raised their price target on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Finally, Truist Financial decreased their price target on shares of Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.07.

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.