Massmutual Trust Co. FSB ADV Purchases 258 Shares of Incyte Co. (NASDAQ:INCY)

Massmutual Trust Co. FSB ADV raised its position in shares of Incyte Co. (NASDAQ:INCY) by 34.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,009 shares of the biopharmaceutical company’s stock after purchasing an additional 258 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Incyte were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of INCY. Raymond James & Associates bought a new stake in Incyte during the 4th quarter valued at $2,291,000. Ballentine Partners LLC bought a new position in shares of Incyte in the 4th quarter worth $280,000. Arizona State Retirement System raised its position in shares of Incyte by 1.2% in the 4th quarter. Arizona State Retirement System now owns 52,350 shares of the biopharmaceutical company’s stock worth $3,287,000 after acquiring an additional 617 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Incyte by 8.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 109,571 shares of the biopharmaceutical company’s stock worth $6,873,000 after acquiring an additional 8,851 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Incyte in the 4th quarter worth $264,000. 96.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. BMO Capital Markets reissued an “underperform” rating and issued a $48.00 price target (down from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. TD Cowen reduced their price target on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Bank of America boosted their target price on Incyte from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Oppenheimer dropped their target price on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.24.

Insider Activity at Incyte

In related news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Vijay K. Iyengar sold 15,571 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the transaction, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 1,093 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the sale, the insider now owns 21,634 shares in the company, valued at $1,274,458.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,282 shares of company stock valued at $2,876,911. 17.50% of the stock is owned by company insiders.

Incyte Price Performance

Shares of Incyte stock traded down $0.73 during trading hours on Tuesday, reaching $61.27. 2,397,338 shares of the company’s stock were exchanged, compared to its average volume of 2,556,383. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $70.36. The company has a market capitalization of $11.80 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The business has a fifty day moving average of $61.98 and a two-hundred day moving average of $58.78. The company has a quick ratio of 3.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company earned $0.77 EPS. Incyte’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Incyte Co. will post 3.35 earnings per share for the current fiscal year.

Incyte Company 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.