New York State Common Retirement Fund Grows Position in Incyte Corporation $INCY

New York State Common Retirement Fund increased its position in Incyte Corporation (NASDAQ:INCY) by 19.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,741 shares of the biopharmaceutical company’s stock after buying an additional 15,100 shares during the quarter. New York State Common Retirement Fund’s holdings in Incyte were worth $7,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. Arrowstreet Capital Limited Partnership raised its stake in shares of Incyte by 701.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,730,648 shares of the biopharmaceutical company’s stock valued at $185,957,000 after acquiring an additional 2,390,084 shares during the last quarter. AQR Capital Management LLC increased its holdings in Incyte by 21.8% during 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 purchasing an additional 1,465,286 shares during the period. Norges Bank bought a new position in Incyte during the 2nd quarter valued at approximately $96,776,000. Pacer Advisors Inc. lifted its holdings in Incyte by 8,091.6% in the 3rd quarter. Pacer Advisors Inc. now owns 1,248,642 shares of the biopharmaceutical company’s stock worth $105,897,000 after buying an additional 1,233,399 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Incyte in the 2nd quarter worth approximately $82,485,000. 96.97% of the stock is currently owned by institutional investors.

Key Incyte News

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: TD Cowen reiterated a Buy on INCY and highlighted management’s roadmap to roughly triple non‑Jakafi revenue by 2029, supporting upside to the stock as investors reward a clearer multi‑product growth trajectory. TD Cowen keeps buy rating on Incyte (INCY), cites roadmap to triple non-Jakafi revenue by 2029
• Positive Sentiment: EMA expanded approval for Zynyz in first‑line anal cancer, increasing the addressable market for Incyte’s partnered/approved assets and strengthening near‑term commercial upside outside Jakafi. How Investors Are Reacting To Incyte (INCY) EMA Boost For Zynyz In First-Line Anal Cancer
• Positive Sentiment: Prelude received FDA clearance for a study of an Incyte‑partnered cancer candidate, a collaborator milestone that can accelerate development timing and create an additional catalyst for the partnership. Prelude climbs as FDA clears study for Incyte-partnered cancer candidate
• Neutral Sentiment: Wall Street expects Incyte to report earnings growth next week; an earnings beat could provide a near‑term share boost while a miss would weigh on sentiment. Incyte (INCY) Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Media pieces and screener headlines (Zacks) list Incyte among medical stocks to watch for potential earnings surprises; these are general interest items that may drive short‑term trading but not long‑term fundamentals. Why Investors Need to Take Advantage of These 2 Medical Stocks Now
• Neutral Sentiment: Analysts remain split on Incyte’s prospects (Jakafi dependence vs. diversification), a dynamic that can amplify volatility around news and earnings. Analysts Differ in Opinion on Jakafi Drug Maker Incyte (INCY)
• Negative Sentiment: Incyte halted a Phase 1b/2a basket trial of tafasitamab plus parsaclisib, a setback for that non‑Jakafi program that tempers the company’s pipeline outlook and could dampen medium‑term growth expectations. Tafasitamab-Parsaclisib Trial Termination Tempers Incyte Outlook
• Neutral Sentiment: Reminder: Incyte is slated to announce quarterly results soon (timing noted by coverage), which remains the proximate event likely to drive the stock. Incyte (INCY) Expected to Announce Earnings on Tuesday

Insider Buying and Selling

In other news, insider Thomas Tray sold 2,774 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $100.00, for a total value of $277,400.00. Following the sale, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the executive vice president owned 66,132 shares of the company’s stock, valued at $7,213,017.24. The trade was a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 95,225 shares of company stock worth $9,519,745 over the last three months. 17.80% of the stock is owned by corporate insiders.

Incyte Price Performance

INCY stock opened at $102.60 on Thursday. The firm has a 50 day moving average price of $101.67 and a 200-day moving average price of $92.61. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $112.29. The firm has a market capitalization of $20.14 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 0.61 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on INCY shares. Mizuho set a $121.00 target price on Incyte and gave the company an “outperform” rating in a report on Monday, December 8th. Truist Financial set a $103.00 target price on shares of Incyte in a research report on Wednesday, December 24th. Barclays boosted their price target on shares of Incyte from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a report on Thursday, January 22nd. Finally, Oppenheimer downgraded Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Incyte has a consensus rating of “Hold” and an average target price of $100.81.

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.