TD Asset Management Inc Sells 19,913 Shares of Incyte Corporation $INCY

TD Asset Management Inc reduced its stake in Incyte Corporation (NASDAQ:INCY) by 13.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,555 shares of the biopharmaceutical company’s stock after selling 19,913 shares during the period. TD Asset Management Inc’s holdings in Incyte were worth $8,414,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in shares of Incyte in the 1st quarter worth about $26,000. Hilltop National Bank bought a new stake in shares of Incyte in the 2nd quarter worth about $37,000. SVB Wealth LLC bought a new stake in shares of Incyte in the 1st quarter worth about $39,000. Geneos Wealth Management Inc. increased its holdings in shares of Incyte by 350.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 588 shares during the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of Incyte in the 1st quarter worth about $47,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Price Performance

Shares of INCY opened at $87.57 on Monday. The company has a 50 day moving average price of $85.20 and a 200-day moving average price of $72.61. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $92.86. The stock has a market capitalization of $17.10 billion, a PE ratio of 19.90, a PEG ratio of 0.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85.

Wall Street Analyst Weigh In

INCY has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an “underperform” rating and set a $60.00 price target (up from $52.00) on shares of Incyte in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on shares of Incyte from $72.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 24th. Citigroup lifted their price target on shares of Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Barclays assumed coverage on shares of Incyte in a research note on Friday, August 1st. They set an “overweight” rating and a $90.00 price target for the company. Finally, Truist Financial boosted their price objective on shares of Incyte from $73.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $84.79.

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.