Incyte Corporation $INCY Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 33.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,949 shares of the biopharmaceutical company’s stock after buying an additional 10,027 shares during the quarter. Fisher Asset Management LLC’s holdings in Incyte were worth $3,388,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in INCY. denkapparat Operations GmbH lifted its position in shares of Incyte by 46.1% during the 2nd quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock worth $769,000 after purchasing an additional 3,564 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in Incyte during the 3rd quarter worth about $14,646,000. LBP AM SA boosted its position in shares of Incyte by 33.6% during the 3rd quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company’s stock worth $20,245,000 after acquiring an additional 59,974 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Incyte by 38.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock worth $32,873,000 after acquiring an additional 108,645 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Incyte by 28.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 106,789 shares of the biopharmaceutical company’s stock valued at $9,309,000 after acquiring an additional 23,954 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on INCY. Wells Fargo & Company lowered their price target on Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. Piper Sandler increased their target price on shares of Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $90.00 price target on shares of Incyte in a research note on Thursday, January 8th. Royal Bank Of Canada decreased their price objective on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. Finally, Stifel Nicolaus raised their price objective on Incyte from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Incyte presently has an average rating of “Hold” and an average target price of $104.00.

Incyte Stock Down 1.5%

Shares of NASDAQ:INCY opened at $97.33 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. The stock has a market cap of $19.37 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.78 and a beta of 0.84. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $112.29. The firm has a fifty day moving average price of $102.36 and a 200 day moving average price of $96.09.

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

Insider Buying and Selling at Incyte

In related news, EVP Michael James Morrissey sold 54,008 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $97.29, for a total transaction of $5,254,438.32. Following the completion of the sale, the executive vice president directly owned 31,830 shares of the company’s stock, valued at $3,096,740.70. This trade represents a 62.92% decrease in their ownership of the stock. The sale 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 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 transaction, the insider directly owned 22,973 shares in the company, valued at $2,297,300. This represents a 10.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 72,561 shares of company stock worth $7,195,307. 17.80% of the stock is currently owned by insiders.

Incyte Company 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.