US Bancorp DE Reduces Holdings in Incyte Corporation $INCY

US Bancorp DE lowered its stake in shares of Incyte Corporation (NASDAQ:INCY) by 63.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,687 shares of the biopharmaceutical company’s stock after selling 9,765 shares during the quarter. US Bancorp DE’s holdings in Incyte were worth $482,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INCY. Barclays boosted their price objective on shares of Incyte from $116.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Piper Sandler raised their target price on Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. HC Wainwright reiterated a “buy” rating and set a $135.00 price target on shares of Incyte in a research note on Monday. 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. Finally, Weiss Ratings upgraded Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $104.00.

Insider Activity

In related news, EVP Mohamed Khairie Issa sold 10,856 shares of Incyte stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the completion of the transaction, the executive vice president directly owned 66,132 shares in the company, valued at approximately $7,213,017.24. This trade represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 2,774 shares of Incyte stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,297,300. This represents a 10.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 72,561 shares of company stock valued at $7,195,307 in the last quarter. 17.80% of the stock is currently owned by company insiders.

Key Incyte News

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: EU clears label expansion for Incyte’s oncology drug Zynyz as the first systemic therapy with chemotherapy for advanced squamous cell anal cancer (SCAC) — a new addressable market and commercial opportunity in Europe that also validates the drug’s broader oncology utility. INCY Wins EC Approval for Label Expansion of Oncology Drug Zynyz
• Positive Sentiment: HC Wainwright reaffirmed a “buy” rating and set a $135 price target, signaling analyst conviction of ~39% upside from current levels — a catalyst for momentum investors and buy-side interest. HC Wainwright Reaffirms Buy on INCY
• Positive Sentiment: Coverage highlights Incyte’s strong cash flow generation ahead of a key conference, which supports near-term funding for commercialization and pipeline programs and reduces financing risk. This bolsters the stock’s fundamental outlook. Incyte Momentum Builds With Strong Cash Flows Ahead Of Key Conference
• Neutral Sentiment: Evercore ISI maintained a “hold” stance on Incyte, indicating some analysts remain cautious despite approvals and positive cash flow commentary — a reminder of mixed analyst views. Evercore ISI Remains a Hold on Incyte
• Negative Sentiment: The FDA has rejected Incyte’s application to expand Zynyz’s lung cancer indication, not due to clinical data but because of quality/manufacturing issues at a Catalent facility recently acquired by Novo Nordisk — this regulatory snag delays U.S. label expansion and could push back incremental revenue from that indication. FDA Rejects Incyte’s Lung Cancer Application Over Catalent Plant Issues

Incyte Trading Up 1.2%

Shares of Incyte stock opened at $97.10 on Tuesday. 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 firm has a fifty day moving average price of $102.24 and a 200 day moving average price of $96.39. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $112.29. The stock has a market cap of $19.32 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.76 and a beta of 0.84.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing the consensus estimate 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 net margin of 25.03% and a return on equity of 26.34%. Incyte’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 earnings per share. 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.