Focus Partners Advisor Solutions LLC Buys 8,581 Shares of Incyte Corporation $INCY

Focus Partners Advisor Solutions LLC raised its stake in Incyte Corporation (NASDAQ:INCY) by 29.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,078 shares of the biopharmaceutical company’s stock after acquiring an additional 8,581 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Incyte were worth $3,229,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of INCY. Harbor Capital Advisors Inc. purchased a new stake in Incyte during the 3rd quarter valued at about $26,000. Root Financial Partners LLC purchased a new position in Incyte in the third quarter worth about $28,000. Quent Capital LLC purchased a new stake in shares of Incyte during the third quarter valued at approximately $30,000. MUFG Securities EMEA plc purchased a new stake in shares of Incyte during the second quarter valued at approximately $32,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Incyte during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $135.00 target price on shares of Incyte in a research note on Wednesday, February 11th. TD Cowen reaffirmed a “buy” rating on shares of Incyte in a report on Tuesday, January 13th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $90.00 price objective on shares of Incyte in a research report on Thursday, January 8th. Truist Financial set a $103.00 target price on Incyte in a research report on Wednesday, December 24th. Finally, Morgan Stanley set a $102.00 price target on shares of Incyte in a report on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $104.00.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 2,774 shares of the business’s stock in a transaction on Friday, December 19th. The shares were 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 of the company’s stock, valued at $2,297,300. The trade was a 10.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael James Morrissey sold 54,008 shares of the firm’s stock in a transaction 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 transaction, 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 have sold 72,561 shares of company stock worth $7,195,307 in the last 90 days. 17.80% of the stock is currently owned by insiders.

Incyte Trading Up 0.8%

Incyte stock opened at $98.86 on Thursday. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $112.29. The company has a market cap of $19.67 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.78 and a beta of 0.84. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $102.42 and a two-hundred day simple moving average of $96.08.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Incyte had a return on equity of 26.34% and a net margin of 25.03%.The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. Analysts predict that Incyte Corporation will post 4.86 EPS 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.