Incyte Corporation $INCY Shares Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. lifted its holdings in Incyte Corporation (NASDAQ:INCY) by 33.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,762 shares of the biopharmaceutical company’s stock after acquiring an additional 17,313 shares during the quarter. Raymond James Financial Inc.’s holdings in Incyte were worth $4,224,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cresset Asset Management LLC increased its stake in shares of Incyte by 24.7% in the first quarter. Cresset Asset Management LLC now owns 10,583 shares of the biopharmaceutical company’s stock worth $641,000 after acquiring an additional 2,094 shares during the period. Aberdeen Group plc increased its holdings in shares of Incyte by 128.5% during the 1st quarter. Aberdeen Group plc now owns 128,975 shares of the biopharmaceutical company’s stock valued at $7,728,000 after purchasing an additional 72,541 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Incyte by 0.3% during the 1st quarter. Sei Investments Co. now owns 203,785 shares of the biopharmaceutical company’s stock valued at $13,369,000 after purchasing an additional 607 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Incyte by 367.1% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 20,617 shares of the biopharmaceutical company’s stock valued at $1,248,000 after purchasing an additional 16,203 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Incyte by 28.7% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 95,564 shares of the biopharmaceutical company’s stock valued at $5,786,000 after purchasing an additional 21,300 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

INCY opened at $86.64 on Friday. The firm has a market capitalization of $16.92 billion, a PE ratio of 19.69, a PEG ratio of 0.67 and a beta of 0.75. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $87.99. The firm’s 50-day moving average price is $76.83 and its 200 day moving average price is $68.67. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling at Incyte

In related news, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $68.61, for a total transaction of $41,097.39. Following the transaction, the executive vice president directly owned 26,504 shares in the company, valued at approximately $1,818,439.44. The trade was a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven H. Stein sold 14,952 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $68.47, for a total transaction of $1,023,763.44. Following the transaction, the executive vice president owned 97,466 shares in the company, valued at $6,673,497.02. The trade was a 13.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,098 shares of company stock valued at $3,836,196. Insiders own 17.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INCY. BMO Capital Markets restated an “underperform” rating and set a $60.00 price target (up previously from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Royal Bank Of Canada raised their price target on shares of Incyte from $68.00 to $72.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on shares of Incyte from $67.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Stifel Nicolaus upgraded shares of Incyte from a “hold” rating to a “buy” rating and raised their price target for the company from $75.00 to $107.00 in a research report on Monday, June 16th. Finally, Bank of America raised their price target on shares of Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $82.53.

Incyte Company 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.