Hohimer Wealth Management LLC Sells 14,142 Shares of Incyte Corporation $INCY

Hohimer Wealth Management LLC cut its position in Incyte Corporation (NASDAQ:INCY) by 25.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,333 shares of the biopharmaceutical company’s stock after selling 14,142 shares during the period. Hohimer Wealth Management LLC’s holdings in Incyte were worth $3,505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INCY. Harbor Capital Advisors Inc. acquired a new position in Incyte during the 3rd quarter worth $26,000. Root Financial Partners LLC bought a new stake in Incyte during the 3rd quarter worth about $28,000. Quent Capital LLC acquired a new position in Incyte during the 3rd quarter valued at about $30,000. MUFG Securities EMEA plc bought a new position in shares of Incyte in the 2nd quarter valued at about $32,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Incyte during the 2nd quarter worth approximately $33,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In related news, EVP Mohamed Khairie Issa sold 10,856 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total value of $1,184,063.92. Following the completion of the sale, the executive vice president directly owned 66,132 shares in the company, valued at $7,213,017.24. This represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven H. Stein sold 20,105 shares of Incyte stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the transaction, the executive vice president directly owned 63,129 shares of the company’s stock, valued at $6,471,353.79. This represents a 24.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 95,225 shares of company stock valued at $9,519,745. 17.80% of the stock is owned by insiders.

Incyte Trading Up 0.1%

Shares of Incyte stock opened at $100.09 on Friday. The company has a market capitalization of $19.92 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 0.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $112.29. The business has a fifty day simple moving average of $102.55 and a two-hundred day simple moving average of $95.57.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm posted $1.43 earnings per share. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. Research analysts forecast that Incyte Corporation will post 4.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on INCY shares. Stifel Nicolaus increased their price target on Incyte from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $135.00 target price on shares of Incyte in a report on Wednesday, February 11th. Wall Street Zen cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Truist Financial set a $103.00 target price on Incyte in a report on Wednesday, December 24th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $90.00 target price on shares of Incyte in a research note on Thursday, January 8th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $104.00.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.