Incyte Corporation $INCY Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in Incyte Corporation (NASDAQ:INCY) by 28.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 106,789 shares of the biopharmaceutical company’s stock after purchasing an additional 23,954 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.05% of Incyte worth $9,309,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Incyte by 0.7% in the second quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock valued at $1,371,220,000 after purchasing an additional 137,570 shares in the last quarter. AQR Capital Management LLC grew its holdings in Incyte by 21.8% in the 2nd quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock valued at $558,519,000 after buying an additional 1,465,286 shares in the last quarter. Geode Capital Management LLC grew its holdings in Incyte by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company’s stock valued at $294,899,000 after buying an additional 139,740 shares in the last quarter. LSV Asset Management increased its stake in shares of Incyte by 6.2% in the 2nd quarter. LSV Asset Management now owns 3,861,831 shares of the biopharmaceutical company’s stock worth $262,991,000 after acquiring an additional 223,857 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Incyte by 7.3% during the 2nd quarter. Invesco Ltd. now owns 3,401,018 shares of the biopharmaceutical company’s stock worth $231,609,000 after acquiring an additional 232,268 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Incyte stock opened at $101.99 on Friday. 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 Corporation has a 52-week low of $53.56 and a 52-week high of $112.29. The firm has a market cap of $20.02 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 0.63 and a beta of 0.82. The company’s 50 day moving average is $101.99 and its two-hundred day moving average is $90.62.

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, topping analysts’ consensus estimates of $1.65 by $0.61. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share. On average, research analysts expect that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Monday, November 3rd. Wells Fargo & Company reissued an “equal weight” rating and issued a $107.00 price target (down previously from $116.00) on shares of Incyte in a research note on Tuesday. Truist Financial set a $103.00 price target on shares of Incyte in a research report on Wednesday, December 24th. Oppenheimer cut Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Finally, 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 research report on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.75.

Insider Buying and Selling

In other news, insider Thomas Tray sold 2,774 shares of Incyte stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the transaction, the insider owned 22,973 shares in the company, valued at approximately $2,297,300. This trade represents a 10.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sheila A. Denton sold 598 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total transaction of $60,613.28. Following the sale, the executive vice president owned 26,569 shares in the company, valued at $2,693,033.84. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 98,897 shares of company stock worth $9,869,376 over the last ninety days. Company insiders own 17.80% of the company’s stock.

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.