Banco Santander S.A. Trims Position in Incyte Co. (NASDAQ:INCY)

Banco Santander S.A. trimmed its position in Incyte Co. (NASDAQ:INCY) by 20.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,418 shares of the biopharmaceutical company’s stock after selling 24,218 shares during the period. Banco Santander S.A.’s holdings in Incyte were worth $6,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. MFA Wealth Advisors LLC bought a new position in Incyte during the 2nd quarter valued at approximately $26,000. Innealta Capital LLC purchased a new position in shares of Incyte in the 2nd quarter worth about $32,000. Itau Unibanco Holding S.A. bought a new position in Incyte in the 2nd quarter worth about $36,000. Deseret Mutual Benefit Administrators grew its position in Incyte by 37.1% during the 2nd 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 during the last quarter. Finally, 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 valued at $37,000 after purchasing an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wolfe Research began coverage on shares of Incyte in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price on the stock. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citigroup lifted their price objective on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, JMP Securities restated a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.16.

Insider Buying and Selling at Incyte

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock valued at $856,166 over the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Incyte Trading Down 0.8 %

Incyte stock opened at $70.45 on Friday. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The stock has a 50-day moving average price of $69.73 and a 200 day moving average price of $64.28. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 503.25, a price-to-earnings-growth ratio of 8.14 and a beta of 0.71.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company posted $0.91 earnings per share. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. Sell-side analysts anticipate that Incyte Co. will post 0.4 EPS for the current 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.