Strs Ohio Makes New Investment in Incyte Corporation $INCY

Strs Ohio purchased a new stake in shares of Incyte Corporation (NASDAQ:INCY) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,082 shares of the biopharmaceutical company’s stock, valued at approximately $2,064,000.

A number of other institutional investors and hedge funds have also made changes to their positions in INCY. Banque Transatlantique SA acquired a new stake in shares of Incyte in the first quarter worth approximately $26,000. Raiffeisen Bank International AG acquired a new position in Incyte during the 4th quarter worth about $34,000. SVB Wealth LLC acquired a new position in Incyte during the 1st quarter worth about $39,000. Geneos Wealth Management Inc. raised its position in Incyte by 350.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 588 shares in the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Incyte in the 1st quarter valued at about $47,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Up 0.0%

Shares of Incyte stock opened at $83.14 on Tuesday. The firm has a market cap of $16.24 billion, a P/E ratio of 18.90, a P/E/G ratio of 0.65 and a beta of 0.75. The business has a 50-day moving average price of $78.86 and a 200 day moving average price of $69.12. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $87.99. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INCY. Royal Bank Of Canada raised their price target on Incyte from $68.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 30th. BMO Capital Markets reaffirmed an “underperform” rating and set a $60.00 price objective (up from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Truist Financial raised their price target on Incyte from $73.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Wells Fargo & Company raised Incyte from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $67.00 to $89.00 in a research report on Wednesday, August 6th. Finally, Citigroup lifted their price objective on Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Seven 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $82.53.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 1,192 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total value of $83,273.12. Following the completion of the sale, the executive vice president owned 37,630 shares in the company, valued at $2,628,831.80. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $68.61, for a total value of $41,097.39. Following the completion of the sale, the executive vice president owned 26,504 shares of the company’s stock, valued at $1,818,439.44. The trade was a 2.21% decrease in their position. 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. 17.80% of the stock is currently owned by company insiders.

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.