Grandfield & Dodd LLC Has $1.07 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Grandfield & Dodd LLC lifted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,810 shares of the biopharmaceutical company’s stock after purchasing an additional 420 shares during the quarter. Grandfield & Dodd LLC’s holdings in Incyte were worth $1,072,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in shares of Incyte by 48.8% during the 4th quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock worth $8,266,000 after buying an additional 43,160 shares during the period. Fulton Bank N.A. bought a new stake in shares of Incyte during the 1st quarter worth $1,425,000. ARK Investment Management LLC boosted its holdings in shares of Incyte by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 531,625 shares of the biopharmaceutical company’s stock worth $33,381,000 after buying an additional 37,932 shares during the period. Russell Investments Group Ltd. boosted its holdings in Incyte by 29.3% in the 4th quarter. Russell Investments Group Ltd. now owns 963,090 shares of the biopharmaceutical company’s stock valued at $60,465,000 after purchasing an additional 217,979 shares during the period. Finally, Great Lakes Advisors LLC bought a new stake in Incyte in the 4th quarter valued at $2,033,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now owns 66,377 shares in the company, valued at approximately $3,982,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total value of $488,880.00. Following the transaction, the executive vice president now owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the transaction, the executive vice president now directly owns 66,377 shares in the company, valued at approximately $3,982,620. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,405 shares of company stock worth $1,703,109. 17.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

INCY has been the subject of a number of research reports. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. BMO Capital Markets reissued an “underperform” rating and issued a $48.00 price target (down from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Bank of America reduced their price target on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. TD Cowen reduced their price target on shares of Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.44.

Incyte Price Performance

Shares of Incyte stock traded up $1.56 during mid-day trading on Thursday, reaching $62.29. 2,268,672 shares of the stock were exchanged, compared to its average volume of 2,604,191. The company has a market cap of $13.99 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.25 and a beta of 0.73. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $58.72 and a 200 day simple moving average of $58.59. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $67.36.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The firm had revenue of $880.89 million for the quarter, compared to analyst estimates of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. On average, sell-side analysts predict that Incyte Co. will post 3.57 EPS for the current fiscal year.

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.