Seizert Capital Partners LLC Acquires 14,095 Shares of Incyte Corporation $INCY

Seizert Capital Partners LLC boosted its holdings in Incyte Corporation (NASDAQ:INCY) by 27.9% in the second quarter, Holdings Channel reports. The institutional investor owned 64,670 shares of the biopharmaceutical company’s stock after acquiring an additional 14,095 shares during the quarter. Seizert Capital Partners LLC’s holdings in Incyte were worth $4,404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. FNY Investment Advisers LLC purchased a new position in shares of Incyte in the second quarter valued at $27,000. Banque Transatlantique SA purchased a new stake in Incyte during the 1st quarter worth about $26,000. Hilltop National Bank bought a new position in Incyte in the 2nd quarter worth about $37,000. SVB Wealth LLC bought a new position in Incyte in the 1st quarter worth about $39,000. Finally, Geneos Wealth Management Inc. grew its holdings in Incyte by 350.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 588 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In related news, EVP Lee Heeson sold 3,074 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the transaction, the executive vice president owned 29,241 shares of the company’s stock, valued at approximately $2,749,238.82. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sheila A. Denton sold 598 shares of Incyte stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of the transaction, the executive vice president owned 26,569 shares in the company, valued at approximately $2,693,033.84. The trade was a 2.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 4,227 shares of company stock worth $396,327. 17.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price target on shares of Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Incyte in a report on Wednesday, October 8th. UBS Group reissued a “neutral” rating and issued a $68.00 price target (up from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Monday, November 3rd. Finally, Zacks Research cut shares of Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $92.77.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $103.89 on Wednesday. The company’s fifty day moving average price is $91.06 and its 200-day moving average price is $78.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 2.78. The firm has a market capitalization of $20.40 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 0.70 and a beta of 0.74. Incyte Corporation has a one year low of $53.56 and a one year high of $109.28.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. On average, equities research analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

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.