US Bancorp DE Has $1.05 Million Holdings in Incyte Corporation $INCY

US Bancorp DE lifted its position in Incyte Corporation (NASDAQ:INCY) by 5.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,452 shares of the biopharmaceutical company’s stock after purchasing an additional 824 shares during the quarter. US Bancorp DE’s holdings in Incyte were worth $1,052,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of INCY. Banque Transatlantique SA acquired a new position in shares of Incyte in the first quarter valued at $26,000. Hilltop National Bank acquired a new position in shares of Incyte in the second quarter valued at $37,000. SVB Wealth LLC acquired a new position in shares of Incyte in the first quarter valued at $39,000. Geneos Wealth Management Inc. raised its stake in shares of Incyte by 350.0% in the first 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 acquired a new position in shares of Incyte in the first quarter valued at $47,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In related news, EVP Steven H. Stein sold 3,706 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $67.94, for a total value of $251,785.64. Following the transaction, the executive vice president owned 102,886 shares in the company, valued at $6,990,074.84. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 4,261 shares of company stock valued at $298,482 in the last quarter. 17.80% of the stock is owned by company insiders.

Incyte Price Performance

Incyte stock opened at $87.57 on Friday. The business’s 50-day simple moving average is $85.20 and its 200 day simple moving average is $72.47. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 0.68 and a beta of 0.73. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $92.86. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Stifel Nicolaus upped their price target on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Oppenheimer cut Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Citigroup upped their price target on Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an “underperform” rating and issued a $60.00 price target (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Incyte has an average rating of “Hold” and a consensus price target of $84.79.

About Incyte

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.