16,196 Shares in Incyte Corporation $INCY Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV bought a new position in shares of Incyte Corporation (NASDAQ:INCY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,196 shares of the biopharmaceutical company’s stock, valued at approximately $1,374,000.

Other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia boosted its stake in shares of Incyte by 0.7% during the 2nd quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock worth $1,160,000 after acquiring an additional 124 shares in the last quarter. MAI Capital Management raised its stake in shares of Incyte by 19.9% in the 2nd quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 125 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its holdings in Incyte by 0.9% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company’s stock worth $1,235,000 after purchasing an additional 125 shares during the last quarter. E Fund Management Co. Ltd. lifted its holdings in Incyte by 0.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 19,912 shares of the biopharmaceutical company’s stock worth $1,356,000 after purchasing an additional 158 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its position in Incyte by 2.4% during the second quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock worth $502,000 after purchasing an additional 171 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In other Incyte news, EVP Mohamed Khairie Issa sold 10,856 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total value of $1,184,063.92. Following the completion of the sale, the executive vice president owned 66,132 shares in the company, valued at approximately $7,213,017.24. This trade represents a 14.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven H. Stein sold 20,105 shares of Incyte stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total value of $2,060,963.55. Following the sale, the executive vice president directly owned 63,129 shares in the company, valued at $6,471,353.79. The trade was a 24.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 95,225 shares of company stock worth $9,519,745. Insiders own 17.80% of the company’s stock.

Wall Street Analyst Weigh In

INCY has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley upped their price objective on shares of Incyte from $92.00 to $94.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. Royal Bank Of Canada lifted their target price on shares of Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Mizuho set a $121.00 target price on shares of Incyte and gave the stock an “outperform” rating in a research report on Monday, December 8th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $90.00 price target on shares of Incyte in a report on Thursday, January 8th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $103.29.

Incyte Stock Up 5.5%

Shares of INCY opened at $108.39 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. The company has a 50-day simple moving average of $101.69 and a 200-day simple moving average of $93.29. 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 $21.28 billion, a P/E ratio of 18.16, a P/E/G ratio of 0.65 and a beta of 0.82.

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.