Incyte Corporation $INCY Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 74.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 29,922 shares of the biopharmaceutical company’s stock after purchasing an additional 12,785 shares during the period. Fisher Asset Management LLC’s holdings in Incyte were worth $2,038,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Banque Transatlantique SA purchased a new stake in shares of Incyte in the first quarter worth about $26,000. FNY Investment Advisers LLC purchased a new position in Incyte during the second quarter valued at approximately $27,000. Hilltop National Bank acquired a new position in Incyte in the second quarter valued at approximately $37,000. SVB Wealth LLC purchased a new stake in Incyte in the 1st quarter worth approximately $39,000. Finally, Geneos Wealth Management Inc. boosted 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 worth $46,000 after purchasing an additional 588 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling

In related news, EVP Steven H. Stein sold 20,105 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the completion of the sale, the executive vice president owned 63,129 shares of the company’s stock, valued at approximately $6,471,353.79. This represents a 24.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 598 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of the sale, the executive vice president owned 26,569 shares of the company’s stock, valued at approximately $2,693,033.84. The trade was a 2.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 26,891 shares of company stock worth $2,720,766. 17.80% of the stock is owned by corporate insiders.

Incyte Stock Up 2.1%

INCY opened at $102.52 on Friday. The company has a market cap of $20.13 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 0.69 and a beta of 0.81. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $109.28. The company has a 50-day moving average price of $95.92 and a 200 day moving average price of $82.37. The company has a quick ratio of 3.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, topping the consensus estimate of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business earned $1.07 EPS. Incyte’s quarterly revenue was up 20.0% on a year-over-year basis. Sell-side analysts expect that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INCY. Weiss Ratings reiterated a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Oppenheimer cut shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Bank of America upped their price objective on shares of Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Stifel Nicolaus raised their target price on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Royal Bank Of Canada lifted their price target on Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $93.85.

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.