Haverford Trust Co Has $515,000 Holdings in Incyte Co. (NASDAQ:INCY)

Haverford Trust Co lifted its stake in Incyte Co. (NASDAQ:INCY) by 1.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,796 shares of the biopharmaceutical company’s stock after buying an additional 135 shares during the period. Haverford Trust Co’s holdings in Incyte were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new position in Incyte in the 2nd quarter valued at approximately $26,000. Innealta Capital LLC bought a new position in Incyte in the second quarter worth $32,000. Itau Unibanco Holding S.A. acquired a new stake in Incyte during the second quarter worth $36,000. Deseret Mutual Benefit Administrators boosted its holdings in Incyte by 37.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 164 shares in the last quarter. Finally, Cromwell Holdings LLC grew its stake in shares of Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 283 shares during the period. Institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

In related news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. The trade was a 18.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,702 shares of company stock valued at $856,166. 17.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price target on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday. Truist Financial reiterated a “hold” rating and issued a $74.00 price objective (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Oppenheimer upped their target price on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup lifted their price target on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Incyte has a consensus rating of “Hold” and an average target price of $77.16.

Incyte Trading Down 3.4 %

NASDAQ INCY opened at $77.73 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The stock’s 50-day moving average is $68.40 and its 200-day moving average is $63.48. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The firm has a market cap of $14.97 billion, a P/E ratio of 564.71, a P/E/G ratio of 9.29 and a beta of 0.71.

Incyte (NASDAQ:INCY) last announced its quarterly 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). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.91 EPS. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. Sell-side analysts anticipate that Incyte Co. will post 0.4 earnings per share 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.