Patton Albertson Miller Group LLC Increases Stock Holdings in Incyte Co. (NASDAQ:INCY)

Patton Albertson Miller Group LLC lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 10.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,329 shares of the biopharmaceutical company’s stock after buying an additional 8,586 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Incyte were worth $6,032,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Incyte in the third quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte during the 3rd quarter worth $33,000. Cromwell Holdings LLC grew its position in Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares during the last quarter. Groupama Asset Managment increased its stake in Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 6,105 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Incyte in the third quarter valued at about $45,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $72.59 on Friday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The stock has a market cap of $13.98 billion, a P/E ratio of 518.54, a PEG ratio of 0.53 and a beta of 0.71. 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 company has a 50-day moving average of $71.69 and a two-hundred day moving average of $68.43.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, research analysts predict that Incyte Co. will post 0.39 EPS for the current fiscal year.

Insider Activity at Incyte

In related news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,375 shares of company stock valued at $1,737,578 over the last quarter. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BMO Capital Markets restated an “underperform” rating and issued a $52.00 price target (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. UBS Group started coverage on shares of Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research began coverage on shares of Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.71.

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.