Continuum Advisory LLC Buys 5,185 Shares of Incyte Corporation $INCY

Continuum Advisory LLC increased its stake in Incyte Corporation (NASDAQ:INCY) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,825 shares of the biopharmaceutical company’s stock after acquiring an additional 5,185 shares during the period. Continuum Advisory LLC’s holdings in Incyte were worth $6,261,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new stake in Incyte in the third quarter valued at approximately $26,000. FNY Investment Advisers LLC bought a new stake in Incyte during the 2nd quarter valued at $27,000. Banque Transatlantique SA bought a new stake in Incyte during the 1st quarter valued at $26,000. MUFG Securities EMEA plc purchased a new stake in Incyte during the 2nd quarter valued at $32,000. Finally, CYBER HORNET ETFs LLC bought a new stake in Incyte in the 2nd quarter worth $33,000. 96.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INCY shares. Barclays increased their target price on shares of Incyte from $101.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Royal Bank Of Canada increased their price objective on Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Bank of America boosted their target price on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Incyte from $97.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $99.79.

Insider Activity at Incyte

In other Incyte news, EVP Lee Heeson sold 3,074 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 29,241 shares of the company’s stock, valued at approximately $2,749,238.82. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael James Morrissey sold 54,008 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $97.29, for a total value of $5,254,438.32. Following the completion of the sale, the executive vice president directly owned 31,830 shares in the company, valued at approximately $3,096,740.70. This represents a 62.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 88,318 shares of company stock worth $8,708,893 over the last 90 days. 17.80% of the stock is currently owned by insiders.

Incyte Trading Down 0.8%

NASDAQ INCY opened at $99.29 on Tuesday. The firm has a market capitalization of $19.49 billion, a PE ratio of 16.63, a P/E/G ratio of 0.68 and a beta of 0.81. The stock’s 50 day moving average is $99.85 and its 200 day moving average is $86.17. Incyte Corporation has a twelve month low of $53.56 and a twelve month 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.

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

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.