Glenmede Trust Co. NA Trims Holdings in Incyte Co. (NASDAQ:INCY)

Glenmede Trust Co. NA cut its position in Incyte Co. (NASDAQ:INCY) by 18.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 697,025 shares of the biopharmaceutical company’s stock after selling 156,962 shares during the quarter. Glenmede Trust Co. NA owned about 0.36% of Incyte worth $46,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its position in Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after purchasing an additional 779,243 shares during the last quarter. LSV Asset Management lifted its position in Incyte by 0.5% in the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after buying an additional 15,115 shares during the last quarter. Pacer Advisors Inc. grew its position in Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after acquiring an additional 2,676,851 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after acquiring an additional 1,101,041 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its stake in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after acquiring an additional 1,985,726 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wolfe Research initiated coverage on Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective on the stock. Oppenheimer boosted their target price on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. Finally, Citigroup boosted their price objective on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.16.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. The trade was a 18.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,702 shares of company stock valued at $856,166. 17.60% of the stock is owned by insiders.

Incyte Stock Up 1.7 %

Incyte stock opened at $74.80 on Wednesday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The stock has a fifty day simple moving average of $70.21 and a two-hundred day simple moving average of $64.85. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 534.32, a PEG ratio of 8.48 and a beta of 0.71.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share 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 analysts’ expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the firm posted $0.91 EPS. Equities analysts predict that Incyte Co. will post 0.4 EPS 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.