Intech Investment Management LLC Buys 4,280 Shares of Incyte Corporation $INCY

Intech Investment Management LLC raised its position in Incyte Corporation (NASDAQ:INCY) by 14.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,308 shares of the biopharmaceutical company’s stock after buying an additional 4,280 shares during the quarter. Intech Investment Management LLC’s holdings in Incyte were worth $2,017,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in INCY. Advisory Alpha LLC grew its position in shares of Incyte by 2.1% in the first quarter. Advisory Alpha LLC now owns 8,056 shares of the biopharmaceutical company’s stock valued at $488,000 after purchasing an additional 166 shares in the last quarter. Blackhawk Capital Partners LLC. grew its position in shares of Incyte by 4.4% in the first quarter. Blackhawk Capital Partners LLC. now owns 4,135 shares of the biopharmaceutical company’s stock valued at $250,000 after purchasing an additional 175 shares in the last quarter. Fifth Third Bancorp grew its position in Incyte by 2.0% during the first quarter. Fifth Third Bancorp now owns 9,103 shares of the biopharmaceutical company’s stock worth $551,000 after buying an additional 179 shares in the last quarter. State of Michigan Retirement System grew its position in Incyte by 0.5% during the first quarter. State of Michigan Retirement System now owns 43,559 shares of the biopharmaceutical company’s stock worth $2,637,000 after buying an additional 200 shares in the last quarter. Finally, Sage Private Wealth Group LLC grew its position in Incyte by 2.6% during the first quarter. Sage Private Wealth Group LLC now owns 8,898 shares of the biopharmaceutical company’s stock worth $539,000 after buying an additional 226 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Incyte Price Performance

Shares of Incyte stock opened at $83.90 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. The stock’s fifty day moving average is $79.19 and its 200 day moving average is $69.23. The stock has a market cap of $16.38 billion, a P/E ratio of 19.07, a P/E/G ratio of 0.65 and a beta of 0.75. Incyte Corporation has a one year low of $53.56 and a one year high of $87.99.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stifel Nicolaus upgraded Incyte from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $107.00 in a research report on Monday, June 16th. JPMorgan Chase & Co. upped their price objective on Incyte from $67.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Citigroup upped their price objective on Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. BMO Capital Markets reiterated an “underperform” rating and issued a $60.00 price objective (up from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Finally, Bank of America upped their price objective on Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $82.53.

Insider Transactions at Incyte

In related news, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total value of $41,097.39. Following the completion of the transaction, the executive vice president owned 26,504 shares in the company, valued at approximately $1,818,439.44. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Vijay K. Iyengar sold 8,617 shares of the business’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total value of $587,248.55. Following the transaction, the executive vice president owned 37,701 shares of the company’s stock, valued at $2,569,323.15. This trade represents a 18.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,098 shares of company stock worth $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.