6,147 Shares in Incyte Corporation $INCY Bought by QRG Capital Management Inc.

QRG Capital Management Inc. purchased a new position in shares of Incyte Corporation (NASDAQ:INCY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,147 shares of the biopharmaceutical company’s stock, valued at approximately $521,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in shares of Incyte in the 3rd quarter valued at about $26,000. FNY Investment Advisers LLC acquired a new position in Incyte during the second quarter worth approximately $27,000. Quent Capital LLC acquired a new position in Incyte during the third quarter worth approximately $30,000. MUFG Securities EMEA plc bought a new stake in Incyte in the second quarter valued at approximately $32,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Incyte in the second quarter valued at approximately $33,000. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on INCY shares. Truist Financial set a $103.00 target price on Incyte in a report on Wednesday, December 24th. Royal Bank Of Canada upped their price objective on shares of Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a report on Wednesday, October 29th. Oppenheimer lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $90.00 price target on shares of Incyte in a report on Thursday, January 8th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $100.75.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 2,774 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00. Following the transaction, the insider owned 22,973 shares in the company, valued at $2,297,300. This trade represents a 10.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sheila A. Denton sold 598 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total value of $60,613.28. Following the sale, the executive vice president owned 26,569 shares of the company’s stock, valued at approximately $2,693,033.84. The trade was a 2.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 98,897 shares of company stock valued at $9,869,376 in the last quarter. Corporate insiders own 17.80% of the company’s stock.

Incyte Trading Up 0.4%

Shares of Incyte stock opened at $105.06 on Friday. 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 firm has a 50-day moving average of $102.03 and a 200-day moving average of $90.37. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $112.29. The stock has a market cap of $20.63 billion, a PE ratio of 17.60, a PEG ratio of 0.63 and a beta of 0.82.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.61. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The business’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 EPS. As a group, sell-side analysts forecast 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.