National Pension Service Invests $1.57 Million in Incyte Corporation $INCY

National Pension Service bought a new stake in shares of Incyte Corporation (NASDAQ:INCY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,495 shares of the biopharmaceutical company’s stock, valued at approximately $1,569,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in Incyte in the 3rd quarter worth $26,000. Root Financial Partners LLC bought a new stake in Incyte during the third quarter valued at about $28,000. Quent Capital LLC purchased a new stake in Incyte in the third quarter worth about $30,000. FNY Investment Advisers LLC bought a new position in shares of Incyte in the second quarter worth about $27,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Incyte during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 1.7%

INCY opened at $100.92 on Wednesday. The company has a market capitalization of $19.81 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 0.62 and a beta of 0.82. The firm has a 50-day simple moving average of $101.73 and a two-hundred day simple moving average of $92.54. 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on INCY shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $90.00 target price on shares of Incyte in a report on Thursday, January 8th. Piper Sandler raised their price objective 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. Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Monday, November 3rd. Oppenheimer lowered Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.75.

Insider Transactions at Incyte

In related news, EVP Mohamed Khairie Issa sold 10,856 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total value of $1,184,063.92. Following the completion of the transaction, the executive vice president directly owned 66,132 shares of the company’s stock, valued at approximately $7,213,017.24. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 2,774 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00. Following the completion of the sale, the insider owned 22,973 shares in the company, valued at $2,297,300. This represents a 10.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 95,225 shares of company stock worth $9,519,745. 17.80% of the stock is owned by corporate insiders.

About Incyte

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.