Colonial Trust Co SC Has $102,000 Stake in Incyte Co. (NASDAQ:INCY)

Colonial Trust Co SC raised its position in shares of Incyte Co. (NASDAQ:INCY) by 41.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,481 shares of the biopharmaceutical company’s stock after purchasing an additional 436 shares during the period. Colonial Trust Co SC’s holdings in Incyte were worth $102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Retirement Systems of Alabama increased its stake in Incyte by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after acquiring an additional 139 shares during the period. Trust Point Inc. raised its position in shares of Incyte by 5.0% during the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock valued at $227,000 after acquiring an additional 156 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Incyte by 0.8% in the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock valued at $1,498,000 after buying an additional 171 shares in the last quarter. Mather Group LLC. raised its holdings in Incyte by 26.4% during the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 173 shares during the period. Finally, 180 Wealth Advisors LLC grew its holdings in shares of Incyte by 3.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock worth $361,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Shares of INCY opened at $59.73 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.56 billion, a PE ratio of 221.23, a P/E/G ratio of 0.41 and a beta of 0.68. The firm has a fifty day simple moving average of $61.53 and a two-hundred day simple moving average of $68.69. Incyte Co. has a 1-year low of $52.81 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. On average, equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

Insider Activity

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,475 shares of company stock valued at $2,424,751. 17.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Incyte from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 30th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Citigroup cut their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus raised their target price on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Finally, Truist Financial dropped their price objective on shares of Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.53.

About Incyte

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.