D.A. Davidson & CO. Purchases 4,143 Shares of Incyte Co. (NASDAQ:INCY)

Posted by Defense World Staff on Apr 30th, 2023

D.A. Davidson & CO. boosted its stake in shares of Incyte Co. (NASDAQ:INCY – Get Rating) by 126.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,419 shares of the biopharmaceutical company’s stock after purchasing an additional 4,143 shares during the period. D.A. Davidson & CO.’s holdings in Incyte were worth $596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its position in Incyte by 0.8% during the third quarter. Daiwa Securities Group Inc. now owns 17,683 shares of the biopharmaceutical company’s stock valued at $1,178,000 after purchasing an additional 138 shares during the period. 180 Wealth Advisors LLC lifted its position in Incyte by 4.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 3,613 shares of the biopharmaceutical company’s stock valued at $311,000 after purchasing an additional 139 shares during the period. Vantage Consulting Group Inc lifted its position in Incyte by 4.4% during the third quarter. Vantage Consulting Group Inc now owns 3,561 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 150 shares during the period. Czech National Bank lifted its position in Incyte by 0.8% during the fourth quarter. Czech National Bank now owns 21,614 shares of the biopharmaceutical company’s stock valued at $1,736,000 after purchasing an additional 168 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in Incyte by 8.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,260 shares of the biopharmaceutical company’s stock valued at $182,000 after purchasing an additional 177 shares during the period. Institutional investors own 95.08% of the company’s stock.

Insider Activity at Incyte

In related news, EVP Maria E. Pasquale sold 60,024 shares of the firm’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $84.74, for a total transaction of $5,086,433.76. Following the completion of the transaction, the executive vice president now directly owns 68,524 shares of the company’s stock, valued at $5,806,723.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of research analyst reports. SVB Leerink restated an “underperform” rating and set a $63.00 price objective on shares of Incyte in a research report on Wednesday, February 8th. Piper Sandler reiterated an “overweight” rating and issued a $100.00 price target on shares of Incyte in a research report on Wednesday, February 8th. Credit Suisse Group increased their price target on shares of Incyte from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 24th. Finally, Royal Bank of Canada downgraded shares of Incyte from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $81.00 to $79.00 in a research report on Monday, April 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.43.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $74.41 on Friday. The firm has a fifty day moving average price of $74.29 and a 200-day moving average price of $77.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.54 and a quick ratio of 3.50. The stock has a market cap of $16.59 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 3.21 and a beta of 0.73. Incyte Co. has a 1 year low of $65.07 and a 1 year high of $86.29.

Incyte (NASDAQ:INCY – Get Rating) last posted its earnings results on Tuesday, February 7th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $926.70 million during the quarter, compared to analysts’ expectations of $880.25 million. Incyte had a net margin of 10.03% and a return on equity of 11.45%. Incyte’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted ($0.07) earnings per share. Equities analysts anticipate that Incyte Co. will post 3.28 earnings per share for the current fiscal year.

Incyte Company Profile

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Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of proprietary therapeutics. The company was founded in April 1991 and is headquartered in Wilmington, DE.