CoreCap Advisors LLC Purchases Shares of 4,743 Incyte Corporation $INCY

CoreCap Advisors LLC purchased a new stake in shares of Incyte Corporation (NASDAQ:INCY) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,743 shares of the biopharmaceutical company’s stock, valued at approximately $402,000.

Several other institutional investors also recently modified their holdings of INCY. Harbor Capital Advisors Inc. bought a new stake in Incyte during the third quarter valued at approximately $26,000. FNY Investment Advisers LLC bought a new stake in shares of Incyte during the 2nd quarter worth $27,000. MUFG Securities EMEA plc bought a new stake in shares of Incyte during the 2nd quarter worth $32,000. CYBER HORNET ETFs LLC purchased a new stake in Incyte during the second quarter valued at about $33,000. Finally, Hilltop National Bank bought a new stake in Incyte during the second quarter worth about $37,000. 96.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on INCY shares. Guggenheim upgraded Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Monday, November 3rd. Piper Sandler increased their price target on shares of Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Mizuho set a $121.00 price objective on shares of Incyte and gave the stock an “outperform” rating in a report on Monday, December 8th. Morgan Stanley increased their target price on shares of Incyte from $92.00 to $94.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Finally, Royal Bank Of Canada lifted their target price on shares of Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 29th. Eight equities research 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. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus price target of $99.53.

Insider Activity at Incyte

In related news, EVP Sheila A. Denton sold 598 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total value of $60,613.28. Following the sale, the executive vice president directly owned 26,569 shares of the company’s stock, valued at $2,693,033.84. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Tray sold 2,774 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $100.00, for a total value of $277,400.00. Following the transaction, the insider owned 22,973 shares in the company, valued at approximately $2,297,300. This represents a 10.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 99,174 shares of company stock valued at $9,892,957 in the last quarter. 17.80% of the stock is currently owned by company insiders.

Incyte Stock Performance

NASDAQ:INCY opened at $106.87 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $112.29. The firm has a market cap of $20.98 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 0.65 and a beta of 0.82. The business has a 50 day moving average price of $102.10 and a 200-day moving average price of $88.38.

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