Incyte Corporation $INCY Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 20.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,161 shares of the biopharmaceutical company’s stock after purchasing an additional 13,349 shares during the period. American Century Companies Inc.’s holdings in Incyte were worth $5,323,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of INCY. Cetera Investment Advisers grew its position in shares of Incyte by 10.2% during the 1st quarter. Cetera Investment Advisers now owns 14,644 shares of the biopharmaceutical company’s stock valued at $887,000 after buying an additional 1,356 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Incyte by 2.1% during the first quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company’s stock valued at $1,210,868,000 after purchasing an additional 417,346 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in shares of Incyte during the 1st quarter worth approximately $349,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Incyte by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,682,029 shares of the biopharmaceutical company’s stock worth $101,847,000 after purchasing an additional 38,962 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Incyte by 9.4% during the 1st quarter. Deutsche Bank AG now owns 1,286,529 shares of the biopharmaceutical company’s stock valued at $77,899,000 after purchasing an additional 110,392 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INCY has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on shares of Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. 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 note on Thursday, September 4th. Truist Financial reiterated a “hold” rating and set a $93.00 price objective (up from $79.00) on shares of Incyte in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company raised their target price on Incyte from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $93.85.

Incyte Price Performance

NASDAQ:INCY opened at $102.52 on Monday. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $109.28. The company has a quick ratio of 3.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. The firm has a market cap of $20.13 billion, a P/E ratio of 17.17, a PEG ratio of 0.70 and a beta of 0.81. The business’s 50-day moving average price is $95.92 and its 200 day moving average price is $82.61.

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

Insider Transactions at Incyte

In other Incyte news, EVP Sheila A. Denton sold 598 shares of Incyte stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total transaction of $60,613.28. Following the transaction, the executive vice president owned 26,569 shares of the company’s stock, valued at $2,693,033.84. The trade was a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lee Heeson sold 3,074 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the transaction, the executive vice president owned 29,241 shares in the company, valued at approximately $2,749,238.82. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,891 shares of company stock valued at $2,720,766 over the last three months. Company insiders own 17.80% of the company’s stock.

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.